Question-and-Answer Session
Operator
Thank you very much sir. (Operator Instructions). And one moment please. First question comes from Brian za Haren. Your line is open. State your affiliation please.
Brian za Haren - Barclays Capital
Barclays Capital.
Rich Kinder
Hi, Brian. How are you doing?
Brian za Haren - Barclays Capital
Good. Rich, how are you?
Rich Kinder
Okay.
Brian za Haren - Barclays Capital
Could you comment on how the weak economic conditions may impact your bulk storage business in 2009?
Rich Kinder
Sure. I think it's a mix bag. On our bulk storage, we do have contracts on many of our facilities, for instance, on our coal import and export facilities. We have, what I would call, take or pay contract there minimum throughput contracts. We get paid regardless of whether the product actually moves to the terminals.
So, we are protected to a large extent. I think we do have some exposure particularly in some of our steel terminals, where we handle for our large steel producers on a requirement basis. In other words, we were entitled to handle everything they bring in or send out. But to the extent they cutback, we do have some exposure there.
I don’t think it will be significant over the course of the year, but that's probably the biggest single headwind that we have on our terminals group if we look forward to 2009. On the liquids terminals side, of course as you all know, storage given the Contango market is in short supply and every bit of the stories that we have is fully contracted, so there we feel very good about liquid side of the business and we feel good about the petcoke side of the business where we do have some minimum contracts, but a number of requirement contract, because there again our refinery customers are running and we are getting the petcoke. And in fact as they burn more heavier crudes, we're actually seeing more of volume on the petcoke side.
But we do have the exposure, you sort of alluded to on the bulk side. I don’t think its material in the sense of the overall terminals operations, but that is a headwind we will face this year.
Brian za Haren - Barclays Capital
And I guess looking in other potential headwind with lower CapEx spending in Alberta, how would that impact your Canada business?
Rich Kinder
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