Thank you for correcting our notes, because that does make it look a lot more efficient than August 2008.
Turning to Mr. Reid now, like many Canadians, I've been interested in the Mackenzie Valley pipeline for a long time. I actually worked up in Paulatuk for a while as a geophysicist, so I have some idea of the geography of the area. But with the change in the North American gas market, the world gas market, with tight gas, have you missed your window? Have you missed your opportunity for this to be a commercially viable project?
You talked about a financial agreement with the federal government. Can you do this project without subsidies? I know people define subsidies differently, and sometimes agreements and ways of rebating royalties or not having them may or may not be, depending on how people describe them.
Can this project work commercially if we get non-subsidy elements taken care of between your organization, the companies, and the federal government?