With Brent flirting with US$70/bbl this month, are the good times back again? Maybe. For sure, higher prices mean more cash flow. But its not all one-way travel. Price is not a panacea. There are perennial challenges. We discuss what these mean and how should they be mitigated. Spoiler-alert, every time you hear the phrase “commodity supercycle”, re-read this Insight, remember 2020, and hold the line”.