The economy continues to recover with more than 162 million people now fully vaccinated in the United States. The government continues to pump stimulus with trillions more still on the horizon. As a result, we believe investors should be prepared for higher taxes and inflation. Commodities have traditionally served as a potential hedge against inflation. For example, oil prices have more than doubled from last year.
The Biden Administration has taken a hard stance on traditional energy sources; however, worldwide demand for oil continues to be robust and, in the absence of further policy changes, by the end of 2022 should reach over 100 million barrels of oil per day. Mewbourne Oil Company is the #1 private energy producer in the United States. This meeting will cover Mewbourne’s outlook for energy prices, the rise of renewable energy, and if oil and gas investments still make sense in today’s environment.
Did you know? The Internal Revenue Code has a special exemption for working interests in domestic energy programs (IRC 463c) that allows investors to take an active write-off. This means that the Intangible Drilling Costs associated with these programs can be written off again ANY type of income.
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