BXE - MEG Energy: A Race Against Time
Whenever a commodity industry is on the upswing, as the oil industry is currently, there is always the tendency to shout that the oil price will go to the stars. That is followed by "the high price will last for years". But commodity industries seldom work that way. Generally higher prices mean that higher cost supplies are now profitable. So supplies increase as the commodity price rises. This may take time to work out, but many managements like MEG Energy (OTCPK:MEGEF) know they need to take advantage of relatively good industry conditions when