 Recession in 2008, 2009, curbed economic activity and with a demand for both fuels. Oil and gas markets are now starting to show signs of recovery, but the impact of the recession differs across regions and the outlook remains very uncertain. In both oil and gas we see notable differences between non-OECD and OECD markets with strong growth in China, India and the Middle East, compared to weaker or flat demand elsewhere, especially in the fragile European economy. I can't talk about oil demand without referring to the puzzle that is China, and of course data issues here become fairly important because everyone trying to monitor oil demand developments in China is working with a very incomplete set of cards. We have very poor visibility on actual demand within the Chinese market. There are some question marks even about economic data coming out of China, and of course it makes forecasting very, very difficult, but nonetheless we still see this economy generating around half of expected global demand growth going forward. The interesting thing is that the interface between gas and coal is going to become the most interesting part of the power sector in the next decade. That much is clear, and it's going to be much more interesting than we thought maybe a year ago. The US is the best example of that. Power demand down 4% last year, still struggling to get back, certainly in the industrial sector although I suspect the residential sector or commercial might be pretty good today. As you can see, they're a nice little peak, and that's gas-fired power. So gas-fired power actually grew last year in the United States, and I guess that's a reflection of the ferocious competitiveness of the gas supplies, but also the fact that coal in a number of regions rose last year. Coal prices have risen quite sharply over the last 12 months, driven by China. So suddenly what happens in OECD power markets, the balance between gas and coal is affected by Chinese coal imports. It gets complicated.