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Countless trillions of dollars have been lost or made betting on the oil patch. There are some oil wells around here that have been pumping since before WW2. I wish I was lucky enough to be part of the family that got that chunk on land. I own a house and the property it sits on in a typical neighborhood. I did not get the mineral rights with the land. The mineral rights are almost always retained but the family that got the land originally. There will never be any drilling in this area.
To buy the option to drill is a total crap shoot. How long will the oil glut last?
I know a few guys in the oil industry that are all hoping for a nice war in the middle east to raise the price of oil soon.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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