Mr. Doherty, would you like me to take a stab at this one initially? Okay, thank you.
I believe products like bioethanol, bio-coal, or bio-anything, whatever you'd like to look at as end products and value-added products out of forestry, are very good ideas. In fact, the biggest barrier to entry on such projects is basically the capex required.
Often it's a “build it and they will come” approach right now, because things like torrefied pellets that have been sitting out there for 10 or 15 years.... I've visited every torrefied wannabe across the planet, from Austria, Switzerland, up in Finland, Germany, and they're much more advanced there. However, that was the mother of necessity. Their power costs are extremely high over there.
Over here, in what I'll call “God's country”, where our power prices are so low, we don't have that pressure. Canada lags behind these types of initiatives. We don't put the money into the places that would be really good—for instance, into a bioplant that would take the waste streams of forestry, which are typically burnt up right now either in a forest fire or just simply in a burn pile. We convert that to value-added product on an ongoing, long-term basis.
I absolutely agree, Mr. Doherty.