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.
Adam Taggart is the President and Co-Founder of Peak Prosperity. He wears many hats, but his basic job is to handle the business side of things so that his fellow co-founder, Chris Martenson, is free to think and write. Adam is an experienced Silicon Valley internet executive and Stanford MBA. Prior to partnering with Chris (Adam was General Manager of our earlier site, ChrisMartenson.com), he was a Vice President at Yahoo!, a company he served for nine years. Before that, he did the 'startup thing' (mySimon.com, sold to CNET in 2001). As a fresh-faced graduate from Brown University in the early 1990s, Adam got a first-hand look at all that was broken with Wall Street as an investment banking analyst for Merrill Lynch. Most importantly, he's a devoted husband and dad.
Arthur Berman is a petroleum geologist with 37 years of oil and gas industry experience. He is an expert on U.S. shale plays and currently consults for several E&P companies and capital groups in the energy sector. Art has published more than 100 articles on oil and gas plays and trends and been interviewed by CBS, CNBC, CNN, CBC, BNN, Bloomberg, Platt's, Financial Times, Wall Street Journal, Rolling Stone and New York Times. He is also an associate editor of the AAPG Bulletin and was a managing editor and frequent contributor to theoildrum.com. Art worked 20 years for Amoco (now BP) and 17 years as consulting geologist. He has an M.S. (Geology) from the Colorado School of Mines and a B.A. (History) from Amherst College.