Industry committee  I cannot answer for Shell. I can tell you, however, that every time company officials asked for something, we provided it. They continually raised the bar. When I hear Shell saying that the price they were asking was only for the refinery and that it didn't include the wholesale side, well, I would refer you back to the February 16 term sheet which states that the present value of future revenues they would receive with the terminal… What do you think “wholesale” sales are?

Industry committee  Unfortunately, I cannot answer for Shell, but I can tell you what I witnessed throughout the process. We were extremely prudent and very much aware of the responsibilities that rested on our shoulders. Indeed, this was something that involved a large number of families. That's the reason why we demanded that Shell not initiate a process without having a clear framework—something we secured on February 16.

Industry committee  Yes.

Industry committee  I very much agree that Shell was a highly qualified company, both in terms of its organization, as a subsidiary of a larger group, and in terms of its expertise in the field. It is important to understand that Shell had concerns—which were appropriate—and did not want to sell to a company unfamiliar with the industry.