First of all, at today's gas prices, Mackenzie is simply not economic—there's no question about that. Today's gas prices are simply not sustainable. They're barely covering operating costs, let alone the full cycle of development costs of natural gas.
We've obtained an independent study on gas price forecasts and North American gas supply and demand balances. Those studies show that with the combination of the decline in the conventional resources and the upswing in demand for natural gas—the environmentally preferred fossil fuel—by 2020 gas prices will be there to make a project like Mackenzie economic.
The fiscal arrangement that we're negotiating with the federal government is simply to reduce the cost of capital. The largest single component of the shipping toll is the cost of capital. Pipelines are capital-intensive. So if we can get a government guarantee to reduce our cost of capital, that makes our project very attractive to incremental shippers.