Schulich Buys 5% of MEG Energy Despite Canadian Energy Concerns

Canadian investor Seymour Schulich said he bought about 5% of MEG Energy Corp. for the first time “in the last couple of weeks,” underscoring his bullish view on energy despite his concerns that Canada is squandering its resource legacy.

“We’ve got a window here and it’s somewhere between 10 and 25 years,” Schulich, 79, said Thursday in an interview in Toronto. “If we don’t exploit the legacy this country has been given as the third-largest reserves of oil-and-gas in the world and build schools, hospitals, infrastructure -- if we don’t do that, we’re going to lose out.”