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Farmers: Instant millionaires

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General interest discussions, not necessarily related to depletion.

Farmers: Instant millionaires

Unread postby Vogelzang » Mon 14 Jul 2008, 22:34:48

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

Unread postby emersonbiggins » Mon 14 Jul 2008, 22:56:59

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.
"It's called the American Dream because you'd have to be asleep to believe it."

George Carlin
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Re: Instant millionaires

Unread postby Plantagenet » Mon 14 Jul 2008, 23:28:01

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.
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Re: Instant millionaires

Unread postby smallpoxgirl » Mon 14 Jul 2008, 23:31:00

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

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"We were standing on the edges
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
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Re: Instant millionaires

Unread postby Eli » Mon 14 Jul 2008, 23:47:12

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.
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Re: Instant millionaires

Unread postby joeltrout » Mon 14 Jul 2008, 23:55:04

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.

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Re: Instant millionaires

Unread postby f2tornado » Mon 14 Jul 2008, 23:56:40

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.
[url=http://money.cnn.com/2008/07/07/technology/woody_solar.fortune/index.htm?postversion=2008071104]The solar land grab is on.
[/url]
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