I suppose you could invite a lot of technical analysts in to talk about to what extent the hedge funds or speculators are actually driving our price behaviour. One thing we do know for sure is that markets in the short term are not particularly rational. They get onto a particular bugbear and will go tearing off. We saw that last fall.
The underlying supply and demand conditions in gas markets, though, were tight, and whenever you have underlying tight conditions, a small change or a small fear of some future event will tend to drive it to degrees that a normal person would think were not particularly rational. On the other hand, then you see it coming back down again when conditions change.
What we think we know about the underlying fundamentals in the North American gas market--if you base it, for example, on finding and development costs--is that they've probably doubled or more than doubled in the past five years.