Is $100 per barrel of crude the realistic price?
We are not commenting on the level of price. It is always moving. About four-five years ago, $30 per barrel price was seen as a very high price. Now $100 may be a high price but we have seen crude oil prices reaching $147 per barrel, so what is the high price, we can’t tell. In the mid to long term, we know that the cost of investment in exploration, development and production will increase. We will have much more deeper offshore oil fields or oil sands so the cost will increase. Because of the supply-demand situation, the market is tighter, and if the economic recovery is robust as it should be, the prices will get higher. Given the way that the crude demand has picked up, is the world out of the recession? That is a good question. I think India, China and Middle East are out of recession, but not necessarily the OECD countries because OECD countries demand is projected to be negative in 2010. The OECD demand will shrink in 2010. On the other hand, macro economists say that OECD count
