Yesterday, President Biden announced a ban on Russian oil imports to the U.S. The announcement boosted oil prices, now up a full 70% per barrel since the start of the year. But what if that’s only the beginning?
Last week, I explained that we’re in the middle of the first war of the globalized era. It’s the first time one of the major world economies has been cut off from international trade and finance. Because we live in this globalized world, we can’t escape the consequences. Commodity prices are already soaring, especially energy base metals, with grain prices beating their previous 14-year highs. The supply-side shock will no doubt reinforce our already punishing inflation. But there’s another key factor that makes this war different from all others that have come before. It’s a whole new kind of battlefield that poses a direct threat to your portfolio and your hard-earned savings. I’m talking about cybersecurity.
One expert calls it’s 2022’s “best buying opportunity.” Another says it could soon be illegal. This is our most divisive topic to date…
Global markets are feeling whiplash as Europe severs financial ties to Russian gas and oil providers. The race to renewables is on, but will we get there before a major economic slowdown? In today’s weekly recap, Ted dives deeper into the war for our energy future and shares his favorite pick for weathering the current storm.
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