When we think about the Arctic, it's really the future that we're thinking about. There's not really a present threat as we speak. But the investments we make today obviously are important for the next 20 to 30 years. Is there a likelihood of a great threat in the Arctic? It's very expensive for all of us to operate—not just for the Canadians to build new facilities in the Arctic but also very expensive for the Russians, the Americans, the Danes, and all the rest.
I don't think the threat is severe. I doubt that it will be severe down the road, because it is really hard for everybody to operate there. I'm not a climatologist and can't say what global warming is going to do to make things less difficult, but it will always be very expensive. When we face the challenge of resources, we have to deal with the places where there are the greatest risks. I think, given what we've seen in the past 20 years and what we're looking at for the next 20 years, the Arctic is an important priority, but it's not the top. It's simply not going to be a zone of combat.