Thoughtful Money with Adam Taggart Rick Rule: I've Rarely Seen Such Good Opportunity In Oil & Gas Stocks
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Jan 25, 2026 
Rick Rule, veteran natural resource investor who built events like the Rule Symposium, shares sharp takes on oil and gas. He explains why underinvestment and cyclical lows set up big supply-driven opportunities. He discusses limits of U.S. shale, gas as a peaking fuel for data centers, valuation bargains in majors, and where disciplined investors might look within the sector.
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Prefer Majors Trading Below Intrinsic Value
- Consider high-quality majors like Exxon when buying oil exposure at discounts to intrinsic value.
- Rick expects majors' margins and value to expand materially if oil rises to $85–$90.
Gas Infrastructure Gives Long-Term Tailwind
- Massive gas infrastructure investment has created a durable demand backbone for natural gas.
- Rick sees LNG, pipelines and petrochemical build-out supporting gas demand for 20+ years.
Position For Gas As Peaking Fuel
- Expect natural gas to serve as peaking power for the grid while renewables and batteries scale.
- Use gas-exposed equities for near- to medium-term demand growth tied to data centers and peaking needs.