I focused quite a bit in my remarks on the fact that the rates are not compensatory. It's true that if those rates were adjusted, then it would be helpful, but the more important point is that it is a regulated rate. What my short-line members are telling me—the class Is can speak for themselves—is that they already exist within a highly regulated environment that allows for commercial interactions, and the marketplace can react more quickly.
I'm not speaking about grain, because that's already a regulated rate, but they want to operate within a commercial framework and not within a regulatory framework. The fact that those rates are not compensatory today indicates that the system will never keep up with the market, so you're better to leave that to the commercial marketplace and and make sure you have sufficient provisions in place that protect the customers in the event of a dispute.
I would argue that we already have a significant number of those measures in place. We have the Canadian Transportation Agency, which has significant powers. We have the maximum revenue entitlement. We have a common carrier obligation. There are a number of shipper protections, final offer arbitration, and mediation services available, so at some point you have to let commercial actors work it out themselves.
What we have seen in this country is that we've developed an efficient, highly productive, and well capitalized railway system. Where there is a lacune is that short-lines compete with trucks, the trucks drive on subsidized roads, and short-lines don't have that benefit of additional infrastructure spending from the government to help them and to level the playing field.
I would emphasize what Mr. Emerson said when he talked about the importance of these short-lines and that we need them to survive. We need to make sure those tracks don't get ripped up because in the future we're going to need them, particularly if you care about sustainability. We are a lot more efficient than trucks, and we are lower-emitting, and so on.
I'm sorry, that's a long answer to your question.