In this week's Stansberry Investor Hour, Dan welcomes Tracy Shuchart to the show. Tracy is the founder, CEO, and chief market strategist of Hilltower Research Advisors. She's also the author of the Renegade Resources newsletter on Substack, which has more than 8,000 subscribers.

Tracy kicks things off by discussing the issues surrounding diesel. She says that the world was previously in a "diesel crunch" in 2025, which only started to ease up in early 2026. With 14% of global refined products passing through the Strait of Hormuz, tension with Iran has started to set things back again. Tracy also states that there's a diesel refinery issue. The U.S. has been slow to build new refineries and is importing diesel from Europe, which is experiencing its own refinery problems. Tracy then gives her 10-year outlook on diesel for the U.S., with part of the solution being that the country looks to South America...

We're still going to need more refined products globally. And so, I suspect we'll probably see more build-out in South America because we would rather have that within our sphere of influence, so to speak, rather than having to rely on the Middle East so much... I think as this moves on, and especially after the Strait of Hormuz issue, we are really going to see the U.S. turn more towards South America... After this particular incident, a whole scope of [the] energy market is about to shift again.

Next, Tracy shares her reasoning for discussing municipal bonds in her recent writings. She sees a lot of risk in buying energy bonds right now and cautions investors to know what they're buying if they decide to buy any of them. She then mentions how commodities have more applications than most folks realize and are connected with other resources. For example, a sulfuric acid shortage in Africa is impacting copper mines. Tracy then shifts the discussion to China's willingness to produce energy by utilizing any resources necessary, including coal, and she believes that Southeast Asian countries could also start leaning more toward coal as well. She thinks that while nuclear energy is starting to be seen as a viable energy solution, it will take time to establish power plants and overcome remaining pushback...

We are beginning to see changes in [the perspective of nuclear], particularly from Europe, who is very anti-, anti-, anti-[nuclear]. And I think we're starting to see a global change. We have more projects in the pipeline globally. The problem is that they just take time... Nuclear certainly would be great. It's clean... But again, those projects are big projects – they take time. And they're also subject to permitting issues and "not in my backyard" issues. And so, we need to streamline the bureaucracy that is involved in all of these projects.

Finally, Tracy explains the problems with relying on solar power as a primary source, especially since our grids aren't built to accommodate it. And while there are discussions about adding batteries, she says it's not efficient enough or economically viable for widespread use. Tracy then shares several companies that she's looking at that she believes will be well positioned once the Iran conflict settles. And she concludes things by sharing her bullish outlook on gold...

I love gold. I am bullish gold far, far, far, far out. So for me, personally, I like to see parabolic moves that have a pullback – a decent pullback. I know that everyone is like, "Gold is dead." No, it's not. I think it has much further to run over years. So I am still a big gold fan. I think that we did see gold miners take a hit – silver miners as well – but I think now is a good time to look at them once again.

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

(Additional past episodes are located here.)

The transcript is coming soon.

This Week's Guest

Tracy Shuchart is the founder, CEO, and chief market strategist of Hilltower Resource Advisors and the author of the Renegade Resources newsletter on Substack. Tracy began her career at the Chicago Board of Trade in 2005, working her way up from a broker to managing a trading desk for a futures, options, and over-the-counter energy brokerage. She has worked with firms like Goldman Sachs, Morgan Stanley, Société Générale, and more. She later founded Hilltower Resource Advisors in 2018.

Tracy is a regular contributor on the energy markets for Fox Business, Bloomberg, BNNBloomberg, Asharq News (Dubai), CNBC, Money.net, Futures radio Show, and CME Group. Tracy holds degrees from the University of Southern California in political science and international relations.