In this week's Stansberry Investor Hour, Dan and Corey welcome Josh Young to the show. Josh is the founder of Bison Interests and writer of the Bison Insights newsletter on Substack. Josh specializes in focusing on the best opportunities in the oil and gas industry.

Josh kicks things off by presenting his evaluations on the current landscape for energy stocks. He sees increasing geopolitical risk in the larger oil and gas companies. He also says that many of them have lost a lot of value as well. He then discusses the two biggest global risks in the oil and gas sector that he cautions investors to stay away from. Despite these challenges, Josh says that smaller oil and gas producers are where he sees the best opportunity in the sector...

I'm not that interested in doing bankruptcy restructurings or other sort of esoteric things like that. What I like so much about some of these smaller-cap oil and gas producers and services companies is [that] I don't need to go that extreme. I can find companies that actually aren't that bad, but they're treated as if they're gone or they're about to go bankrupt from a valuation perspective... especially in the context of some of the valuations on some of these larger companies.

Next, Josh shares why he chose oil and gas as his primary investment focus. He also reflects on the risks and mistakes that led him to the successes that he has today. Josh follows that up by addressing how technological advancements have contributed to the decrease in the oil-rig count. However, despite this appearing to be a negative scenario, Josh says that tailwinds are emerging from production going down. And he believes that oil production is going to be a critical topic during the 2028 presidential election, if not sooner...

I think [oil's] going to be a major campaign point in the 2028 presidential election, and it might be covered in the midterms, but I would bet they're sort of saving it for the 2028 election. While the rig count is falling in the U.S., despite [President Donald] Trump's sort of promising campaign of "drill, baby, drill," the rig count in California is rising... So what [Governor Gavin Newsom and his advisers] have done is they've basically suffocated the California oil and gas industry like they've suffocated many other industries. And now that Trump has said, "Drill, baby, drill," but the rig count's down in California, what they've done is they've imposed a requirement if you want a permit, where they were giving no drilling permits, just like no building permits... [And because the numbers are down now,] the place that will probably have the biggest rig-count increase in the U.S. over the next year is California.

Finally, Josh goes into depth on a company that he's fond of. He also gives his thoughts on the future of oil and where he thinks certain subsectors could grow, especially with regard to demand. But he stresses that he's not a universal commodity bull and says there's one commodity that he's less optimistic about. However, investors should still be careful overall about where they put their money...

In the same way as... the bull case for copper in terms of fewer discoveries and in terms of the likely growing demand, there's a similar story for oil. And the longer that oil prices stay low, the higher they're likely to go. And there are some great ways to express that view without getting destroyed if oil prices don't rise this year or next year.

Click on the image below to watch the video interview with Josh right now. For the audio version, click "Listen" above.

(Additional past episodes are located here.)

The transcript is coming soon.

This Week's Guest

Josh Young is the chief investment officer and founder of Bison Interests and the writer of the Bison Insights newsletter. He has been professionally investing in publicly traded oil and gas securities for nearly two decades. Prior to founding Bison, he gained experience as chairman of Canadian exploration and production company RMP Energy (rebranded as Iron Bridge Resources). He is the author of numerous articles on oil and gas investments and is a frequent guest speaker at various energy-industry conferences. Josh holds a bachelor's in economics with honors from the University of Chicago.

You can learn more about Bison Interests here and Bison Insights here.