Hi Brian

Inflation and devaluation of the US dollar you describe (US$ pops) is one of the possible scenario. It is a complex subject I am sure you know that much smarter people then you and me are preparing the battle on this front.

So far there is no substitute for world wide currency other then US$ end everybody s interest is to protect the US$.

Going back to the subject related to the oil and the parity of US/Can dollar.

25% increase in value of Canadian dollar will negatively effect the Canadian OIL prices to the point that we will not see much benefit of the increase OIL prices in US dollars. (today Canadian OIL is at $62/bbl).

Just like refining margins. The higher the OIL price the lower the refining margins.

How can you win with this crazy hedges. Personal I hope that Canadian dollars will stay at today level.