Daydream or Possibility?


Prepared by the Hardee Investment Group and RBC Wealth Management – 

Since I was a teenager, I’ve heard about how much oil we import and the importance of the Middle East. Burned into my memory are the gasoline lines of the 1973-1975 era. I was attending college in Austin (hook ‘em!) and driving home to Brownsville was an adventure because you never knew if you could find enough gasoline to get you back to school. If time is money, a lot of it was wasted waiting hours in line to get eight gallons of gas – which didn’t go very far – all of this caused by our dependence on foreign oil supplies. Much like the depression was to a prior generation, Vietnam and gasoline lines were to my generation, what will be the lasting legacy of a new generation?

Very few people are still alive who remember when Texas was the Saudi Arabia of the world in the 1930s, 40s and 50s. Perhaps, after 50+ years of depending on foreign oil, it’s time for us to rethink things. Due to advances in technology, we are producing ever increasing amounts of oil and gas. North Dakota, home of the Bakken Oil Shale, has gone from producing 200,000 barrels of oil a day to over 800,000 barrels daily in just four years. The Eagle Ford Shale in Texas is another major discovery that as helped Texas be the #1 producing state in the Union. How might this affect us?

Imagine what happens when we spend our dollars here instead of the Middle East. Our balance of payments falls, we create more jobs here in America, less oil money available for terrorists and perhaps a shrinking deficit. How is this possible? Military spending will drop because we won’t have to protect our foreign energy supplies. Buying U.S. oil creates more jobs that put people to work who will pay sales tax, income tax and property tax instead of receiving unemployment benefits. Maybe the legacy of this generation will be energy self-sufficiency. Imagine how that would change our foreign policy and even our own politics.

As investors, we need to always be looking toward the future. How about a future of shrinking deficits, growing industries, useful job creation and a sense of purpose? Sounds pretty good doesn’t it? How about a comfortable future where you don’t have to worry about making investment decisions because they’re made on your behalf? A future where you have a financial advisory team managing your portfolio and actively working with your other trusted professionals creating a network dedicates to you and your family.

That also sounds pretty good, doesn’t it? Call us at 713-853-0879. Let’s talk about your future today.


 

This article is provided by H. H. Will Hardee, AWM, a Financial Advisor at RBC Wealth Management’s Houston Center office, and was prepared by or in cooperation with RBC Wealth Management. The information included in this article is not intended to be used as the primary basis for making investment decisions nor should it be construed as a recommendation to buy or sell any specific security. RBC Wealth Management does not endorse this organization or publication. Consult your investment professional for additional information and guidance. RBC Wealth Management does not provide tax or legal advice. RBC Wealth Management, a division of RBC Capital Markets LLC, Member NYSE/FINRA/SIPC