Rick Rule: I've Rarely Seen Such Good Opportunity In Oil & Gas Stocks

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**Adam Taggart** (0:57)
Rick, on the oil side, when you look at the past opportunities like this that you've pre-positioned yourself for, how excited are you right now about the oil industry's prospects? On a scale of 1 to 10, is this a 5? Is this a 9? Is it a 3?

**Rick Rule** (1:15)
For a 73-year-old patient rich guy juxtaposing the risk to reward, this is a sort of a 1 1 being best, 10 being worst.

**Adam Taggart** (1:29)
Oh, okay, good. I was thinking the other way around. So, okay, good.

**Rick Rule** (1:32)
Because the probability of it taking place is so high.

**Adam Taggart** (1:43)
Welcome to Thoughtful Money. I'm its founder and your host, Adam Taggart. Oil and gas stocks have largely been ignored by Wall Street for years now, as the prices of oil and natural gas have largely remained weak. But the world still runs on fossil fuels, and global demand keeps rising each year. And in this industry, the cure for low prices tends to be low prices. So when will the sector, famous for its boom and bust cyclical nature, rotate out of bust and back into boom? Are today's low stock prices presenting a good opportunity to start dollar cost averaging into a sector that's poised for substantial future gains while paying attractive income in the meantime? For answers, we're fortunate to be joined by Rick Rule, one of the world's greatest living natural resource investors and a heck of a gentleman to boot. Rick, thanks so much for joining us today.

**Rick Rule** (2:35)
Pleasure, Adam. Thank you for having me back. I enjoyed our conversations over the years.

**Adam Taggart** (2:40)
Thank you. Well, same here, both on this channel and also in person. Rick, you're one of those guys. They generally say, don't meet your heroes, and I've found that that axiom is much more accurate more often than not. But you're one of the folks that breaks that mold. You're an even greater gentleman in person. So anyways, thanks so much again for coming on. I appreciate the partnership, but also just a friendship.
And I got to say, Rick, I have had more than I've gotten for almost anything over the past couple of months. I have gotten people just hammering me, begging me to get you on the channel to talk about your outlook for oil and gas, largely for the thesis that I just mentioned there in the intro. So I'm looking forward to rolling up our sleeves and getting into that with you here. Real quick, I just want to note too, I'd like to save a few minutes afterwards to talk about some recent trades that you have made in Silver that you announced publicly. I've seen the headlines, but I didn't get a chance to, I've yet to have the chance to drill down to the details. I know from my audience that your announcement really caught their attention. I think there's some important nuance to share there with people. So I hope after we get through the oil and gas, we have a few minutes to talk about Silver as well.

**Rick Rule** (3:55)
I look forward to that. It's a really interesting topic. I think it's probably instructional in the sense that everybody's portfolio is unique and everybody's response to circumstances is unique. So talking about Silver in that context, and also talking about Silver in the absolute will be fun. I look forward to the opportunity.

**Adam Taggart** (4:16)
Great. Then lastly, there's an announcement I want to make, important announcement I want to make for the Thoughtful Money audience and it relates to the logo that's there on your shirt there, Battle Bank. So we'll try to squeeze that into the end as well. All right, Rick. Well, look, just to start here, let's not spend a ton of time on this because we've talked about it in the past, but for those that kind of haven't heard your general overall outlook on fossil fuels, we live in a world where in a recent decade or so, they've really been kind of vilified. There's been a lot of policy worldwide, especially in the West, to get off of fossil fuels, replace it with alternatives. Talk, if you will, just about your view of the global demand for fossil fuels going forward. I don't want to put words in your mouth, but I get the sense you don't think they're going anywhere anytime soon, and they're pretty much about as essential as they've always been.