 So on the role of speculators, this is a perennial question in the oil market. A lot of commodity markets are speculators driving up the price or doing something untoward. First of all, you don't have an open liquid market without speculators. It's about allocating risk. I mean, the first futures market in Chicago in the 19th century, it was about farmers wanting to offload risk to people who were willing to take it.