final dividend, page-7

I'll be the devils advocate then. It's a fair report. Revenue fell -6.64% from the year before but the differential in oil prices realised was only 2% less, so if you look at oil production costs you can see the gap whereby they jumped from $9 in 2009 to $34 in 2013. This is disturbing and probably has a lot of Pluto baked in but I would like to see these costs stablize or fall and revenue rise before I said it was improving. A major correction in China for example, which could drop oil 50%, would impact WPL's balance sheet significantly with costs creeping up so high. In 2008 for example, oil fell to $30, which would be more than their cost price now. In a worse case scenario they have no room for error anymore.