You touched on risk management. If I may take a moment to speak to this, from the operational side, separate and apart from the democratic side, as you can appreciate, with an operation of our scope, we have a comprehensive enterprise risk management framework we work within.
One of the advantages we have as a cooperative—and again I will reflect on something Lyndon Carlson, from FCC, was saying—is we're not beholden in our system to the tyranny of the quarterly forecasts and reports. We're not beholden to analysts in certain financial sectors. We're certainly cognizant of doing well, but we can take a longer time horizon on a number of our investments. The refinery complex is an example of that. We're not being judged by a group of shareholders or directors who are saying we didn't meet a quarterly....
I will reflect on a headline I saw recently that Apple disappointed its analysts because it only had a $8.8 billion profit in the last quarter. I confess to being somewhat befuddled by that, but it's an example of the tyranny of the quarterly, as we call it. We're not beholden to that tyranny, nor are other cooperatives.
I think that's a very important distinction. It allows us to take a very different time horizon on risks, investments, and operations that other organizations don't have.