No, not at all. As I have said, the refinery is viable. It has made money and it has a market. What Shell has done is to take our money, the profits that we have made at the Montreal East refinery for years, and put it into facilities in the tar sands, into building the Scotford refinery. That is where our money and our profits have been going for years. Montreal has suffered from a lack of investment for some time, because its profits went to build what they needed in the west.
This refinery is as competitive as any other in Montreal. The problem is that Shell has waited so long to do any maintenance work that we are now up against a wall. No maintenance has been done as required since the beginning of 2009. Shutdowns were postponed from the spring of 2009 to the fall of 2009, and then from the fall of 2009 to the spring of 2010. Now, with none of the required work done, we are presented with a fait accompli, that the refinery will now be closed in September.
That does not make it a refinery that can no longer operate and make a profit. In fact, in the first quarters of 2010, the profits from the Montreal East refinery now place it in the top 25% of Shell's refineries.