Quote:
Originally Posted by spacedog
LOL.. it's fact.. I recently read a post on another forum in last couple days where the poster was telling how a relative whom owns land leases to the oil companies whom only pay the land owner $28 per barrel and that they're drilling and filling 72 barrels per day just from this one parcel of land..
This is what the companies are paying for oil drilled on private property.. the amount paid for oil drilled on government owned land is far much lower.
Selling prices are based on OPEC
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That doesn't really mean anything because what he is paid is determined on how his lease was negotiated.
This what my family does for living and has for the past 70 years in Texas so, I can assure you he is either full of shit or a classic example of economic Darwinism.