Several wells were drilled north west of my house, approx 20 miles, that were around 3700 feet deep, and free flowed into the tanks for a month without a pump. The reason the perception was we had no oil, is due to the drilling cost. Oil has to be above $70/ barrel for it to be profitable. America is one of very few countries were the oil companies have to deal with individual mineral rights owners and not the government collectively. In other words they get away without paying large royalties. Typically here in the US they pay a 30% royalty to the mineral rights owners. That money is usually split up in 1/8 ths rights or however it was originally. I have a 0.00223230 interest in a well my grandfather had a 1/8 right to from the 1940s. I SPEND the money, and so do the others. Especially because it doesn't amount to millions but hundreds a year for me.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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