Instant millionaires

Vogelzang · Heavy Crude Joined: Jul 03, 2008 Posts: 110

Some farmers and land owners have gotten rich recently from oil and natural gas on their properties. link and link

emersonbiggins · Posted: Mon Jul 14, 2008 8:56 pm Post subject: Re: Instant millionaires

Mineral wealth does wonders for the towns located in and around the basin. We could be witnessing a renaissance in this part of the country, and it seems nowhere is it more sorely needed.
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"It's called the American Dream because you'd have to be asleep to believe it."

George Carlin

Plantagenet · Posted: Mon Jul 14, 2008 9:28 pm Post subject: Re: Instant millionaires

Same deal with wind power. T. Boone Pickens makes a big point of the positive effect his giant wind power plan can have on farms and small towns in the development areas.

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6470

Come and listen to a story 'bout a man named Jed. A poor mountaineer barely kept his family fed.

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Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS

Eli · Posted: Mon Jul 14, 2008 9:47 pm Post subject: Re: Instant millionaires

Had a chance to buy my Grandfathers old stripper wells, they were only producing about 3,000 a month.

Now those same wells would be producing about 20,000.

joeltrout · Light Sweet Crude Joined: Sep 19, 2007 Posts: 1317

Stripper wells were given away in the 80s and 90s, literally given away. Now those who took them are making a ton of money.

One person's trash is another's treasure.

joeltrout

f2tornado · Tar Sands Joined: Jun 21, 2008 Posts: 51

Not just mineral owners. An article in Fortune recently noted how scrub land in the Mojave Desert that was going for as little as $500/acre a few years ago can now fetch $10k or more if the land is near electric transmission lines.
The solar land grab is on.