Rick Rule: Oil Is Going Higher In Coming Years, Making Oil Stocks CHEAP Right Now

**Rick Rule** (0:00)
The point of this is that the price escalation that you've seen in oil in calendar 2026 is really a preview of things to come.

**Adam Taggart** (0:14)
Welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host, Adam Taggart. And I'm very pleased to be able to sit down with the great Rick Rule, fresh off of his very successful annual symposium there in Boca Raton, Florida. Rick, thanks so much for taking the time to join us.

**Rick Rule** (0:31)
Thank you, Adam, and thanks for your participation and support of the Natural Resource Investment Symposium. I appreciate that.

**Adam Taggart** (0:38)
Well, I appreciate that, but I'm going to thank you right back. I had an absolutely wonderful time. You put on a fantastic event, and you are a great host, as is the staff that you've assembled there. So really had just a phenomenal time there, as I know everybody else who got to talk to you there did as well.
Rick, we had you on a couple of months ago leading up to the event. You talk about how what makes this special is you're a guy who's A, been in this business for decades, and B, goes to a lot of these things. And this is kind of your opportunity to assemble what you deem to be the cream of the crop in terms of the greatest analytical minds to come speak, but also the greatest commercial vendors that are out there actually doing the mining and pursuing these natural resources that everybody wants to invest in. So from my perspective, mission totally accomplished, had great time, learned a lot from a lot of great people, met a lot of great mining executives that are there. In fact, I got to have lunch with Rob McEwen, and man, Rick, I'm not sure there's a nicer man on the planet than Rob.

**Rick Rule** (1:49)
That's accurate. I've known Rob long enough that he did business with his father. Which I'll tell you how long I've done business with. And he is, as you say, a wonderful guy, an accomplished mining executive, also honored with the Order of Canada, which is the highest civilian award issued by the government of Canada for his contributions to Canadian philanthropy.

**Adam Taggart** (2:12)
So folks, that's the kind of caliber of person that Rick is assembling at this event. How I got squeaked in the side door, I have no idea, but I'm so grateful of that, Rick.
So I'll talk a little bit about some of the key things that I noted there, but I'm much more interested in asking you as the man who put this all together and got to watch it all unfold over the five days of the event while you were there. What were some of your key takeaways there? What were some of the things that the great Rick Rule actually learned while he was there?

**Rick Rule** (2:42)
Well, the first day takeaway is that what you hear in the popular media is in many senses different than what's occurring. I think that's important. We tried to recruit our macrospeakers not really from journalism, but rather from people who had participated. You know, Nomi Prince can talk about the correct, you know, the corrupt nature of Wall Street because she was a partner in Goldman Sachs.
You know, it goes like that. And I think it's important that you juxtapose the arithmetic of the way the world works today with the way that CNBC and Fox tell you it works. I'm not trying to say that the world is better or that the world is worse than it's portrayed in popular media. What I'm trying to tell you is that the world is different. And I think it's really important that you understand the way the world is before you construct a portfolio designed to protect yourself and or prosper from the world ahead. I think that that same disconnect continues down to resource markets. If you pay attention to the way the big brokerage firms or some of the more popular opinion leaders in natural resources talk about the markets, and you compare and contrast their perceptions with, say, Adrian Day, somebody who's money in these markets, through good markets and bad for 40 years, you notice a huge disconnect between the story that you're sold on the Internet and other places and the market as it exists today.
A shout out to the conference, I guess. I've been going to conferences for a very long time, and I'm a highly competitive person. The idea that you segregate among exhibitors, that you only allow exhibitors whose stock you own, I think contributes to a better conference, too. There is an enormous qualitative difference between a conference that segregates among exhibitors and somebody who lets in anybody with a check that cashes. We admitted 68 public company exhibitors this year. We turned down at last count 135