Posted on Feb 5, 2019
Pickett Land Company
During The Great Depression, Texas fared better than most states because of oil. With concerns of the demise of the Petrodollar and misguided Federal Reserve QE etc. and leftist socialist controlling Congress, the same Fed that admittedly created the 1929 market crash with debt spiraling out of control and raising taxes in an annual multi-trillion dollar economy is part of this economic suicidal plan, being crushed under an Open Border Welfare State. Yuan or Dollar doesn't matter for petroleum. Working interest in a steady producing formation will be better than gold or silver unless it's working interest in a mining operation. The Southeast Texas Gulf Coast historical salt dome oil fields are shallow and steady, with good enhanced oil recovery potential. With two hundred trillion in Unfunded Liabilities which includes the basis of all retirement and savings plans precariously leveraged to an ever expanding bubble about to pop. From Social Security to Deutsche Bank to Italy, pick your fruit of the poisonous tree. Energy is oil and gas. Try Green Energy in a Polar Vortex, delusional when your freezing to death and your lithium batteries fail. Production and drilling in Texas, where taxes are still low and free enterprise still reigns. Low cost per barrel of oil produced may not make you rich but you will be better off than most as history repeats itself and for those who are paying attention.