Precious metals are a great way to diversify your portfolio, but think about looking beyond gold bullion to black gold—oil. Global demand for oil will only continue to increase. While the U.S. consumes more oil than it produces, the potential for increased domestic production on American soil is promising. New technology offers the promise of tapping previously unreachable oil fields. North Dakota has been producing record-setting oil output month after month and reaping the rewards of low unemployment and enormous profit. Meanwhile, the booming production at the shale fields in Texas jumped by more than a third over the last year and production now outpaces even that of North Dakota.
The U.S. is in the midst of an oil renaissance, which makes for very profitable investment opportunities. For example, the Koch Pipeline Company just proposed the construction of a new pipeline that would carry crude oil from North Dakota to Illinois. In addition to profit, there are tax incentives for investment in oil and gas. Where some ventures may seem risky or the potential for profit unlikely, investing and oil and gas could be a hedge against high-risk investments and inflation. The revenue from a consistently producing well may pay off for many years.
Various ways to invest in the oil industry include:
- Drilling companies
- Land where drilling is taking place
Whatever you choose within the oil and gas industry, your self-directed IRA will act as a shareholder and potentially garner great profit.
How it works:
- Commit to an oil or gas company on a particular project
- Open up a new account with Mountain West IRA
- Complete the necessary paperwork for investment
- Mountain West, as the custodian of your self-directed IRA, will send investment funds to the oil or gas company
- Earn revenue from oil and gas profits
Set up your self-directed IRA with Mountain West IRA today so you can invest in the oil or gas industry.