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Re: maryundys post# 4915

Wednesday, 03/07/2007 12:33:22 PM

Wednesday, March 07, 2007 12:33:22 PM

Post# of 29692
another point to consider-there is no shortage of oil but mearly a race to buy up all of the rights to the reserves. over 25 years ago when i was youth growing up in michigan there were several oil companies drilling wells all over from mid to northern michigan. in fact,today, if you drive a half hour north from where i live, you can smell the oil in the air. the oil companies did find oil and lots of it. the farmers that made deals with oil companies to drill on their property thought they had hit the jackpot because they had deals with the oil companies to recieve revenue from proceeds of output. the problem is the oil companies just capped the wells and there is no oil pumping out. the farmers got squat and the oil companies still hold the reserve rights.




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