The Globe and Mail reports in its Friday edition that Methanex has plunged 40 per cent in the last three months. The Globe's Tim Shufelt writes that Baskin Financial president David Baskin says that was clearly an overreaction. Investors seem to have recognized as much, returning to Methanex shares almost half of the value lost to the oil rout. However, the stock still trades at a 22-per-cent discount to its September peak. Mr. Baskin says: "It was a tremendous buying opportunity when it went down that much. ... You're a little bit late to the dance, but the party's not over." Baskin owns shares of Methanex. While a good chunk of global demand for methanol is tied to energy, both the commodity and Methanex stock can advance even in the absence of an oil recovery, says Mr. Shufelt. Energy applications account for about 40 per cent of the global supply of methanol, including its use as an additive to gasoline. So when oil and gasoline prices are high, demand rises for methanol as an alternative. On the input side, however, natural gas is the main ingredient in the production of methanol. That means Methanex is uniquely positioned to benefit when oil is expensive and gas is cheap.