RBC I There’s an adage in the oil and gas industry, one that could apply to almost any commodity, really: “The best cure for high prices is high prices, and the best cure for low prices is low prices.”
That is: High prices lead to more drilling, leading to greater production and, thus, greater supply.
Meanwhile, those same high prices encourage conservation and dampen demand. Supply exceeds demand, and prices drop, so that it’s no…