Like it or not, our modern way of life remains extremely dependent on oil. And even using the rosiest of forecasts, that’s not going to change anytime soon.
Which is why petroleum geologist Art Berman’s prediction of a 30% spike in oil prices later this year is so worrisome.
If it indeed occurs, it will be another painful gut-shot to a global economy still struggling to recover from the damage inflicted by the pandemic.
When the price of oil rises, the price of everything goes up. And there are many vulnerable businesses that simply won’t be able to withstand this double-digit increase to their cost structure in today’s environment.
The ripple effects will be severe and widespread.
More company closures. More lost jobs. Lower stock prices. But higher prices at the gas pump and the grocery store.
Which is why now, more than ever, is the time to partner with a financial advisor who understands the nature of the risks and opportunities in play, can craft an appropriate portfolio strategy for you given your needs, and apply sound risk management protection where appropriate:
Anyone interested in scheduling a free consultation and portfolio review with Mike Preston and John Llodra and their team at New Harbor Financial can do so by clicking here.
And if you’re one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.
But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.