We've not done a proper analysis as to what the impact of the agreement with Korea will be. But we've worked very closely with the federal government for the last two and a half decades to try to formulate a policy that would make some sense going forward for our industry. We're talking about our industry now coast to coast.
It was Minister Tobin who put the committee together back in 2001. We were moving down the road of actually having a policy put forward that would make some sense for the industry. All of a sudden there was a change in government; the committee was disbanded, and the policy was sitting out there. It's a very weak policy, and we see ourselves heading down this road of the free trade agreements, with the EFTA agreement being the worst for us. Korea is a devastating blow, with no policy in place to protect the industry and keep it going in the foreseeable future.
We are surrounded by three oceans. We have a tremendous amount of marine property out there that we're responsible for. At the end of the day, in a very few years, you're not going to have an industry left in Canada that will be able to support the vessels that have to be out there to do the work. They're going to have to be going offshore, not only for shipbuilding, but for ship repair.