Real-Life Jed Clampett Pumps 3 Barrels A Day In His Own Backyard
Dude…this is fukn America, baby…
SELMA, Ind. — It’s just a drop in the global oil bucket, but an eastern Indiana man is operating an oil well in his backyard in an effort to capitalize on soaring crude prices.
Greg Losh’s rig produces three barrels of crude oil a day, though he told FOX News that he hasn’t started selling it yet. For now, he and his partners are keeping it in storage containers.
He declined to say how much oil they’ve collected in the two weeks they’ve been pumping.
But as oil is going for about $127 a barrel on the international market, three daily would yield just under $400 a day for Losh on the global spot market — or 1/100,000 of the daily production increase the Saudis agreed to earlier this month.
Still, in spite of those returns and the $100,000 it costs to drill a well, it’s worth it to Losh considering the current price of oil, he told WISH-TV in Indianapolis.
The oil his well produces comes from the Trenton field that fueled the growth of east-central Indiana cities more than a century ago, he told the station.
He expects to drill four more wells soon on his property in the town of Selma about 55 miles northeast of Indianapolis.
“It’s a money maker. It is paying off,” Losh told FOX.
The oil is stored in a tank and transported to Ohio for sale, he said. His oil well also produces natural gas to heat his home and several others.
(Fox)
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You cant hold an American back, thats for damn sure.
I wish more people would do this and tell the eco-nazis to suck it. it is good to see someone in this country flip the script on OPEC and actually prosper from their rigged oil prices.
May 19th, 2008 at 3:53 pmHehehe!
Hey, Greg … watch out for Green Peace and the other enviro fascists to show up on your front lawn any day now.
But NOT before Hillary and the dems in congress show up to “take your profits” …
May 19th, 2008 at 3:53 pmAmerican ingenuity, right there!
May 19th, 2008 at 4:39 pmThere are a lot of “stripper” wells in South Texas (10-12 barrels per day). The major problem WAS the cost of electricity to run the pumps. Now at $125+ per barrel, I suspect a lot of these wells are back on line.
May 19th, 2008 at 5:19 pmI see quite a few previously idle wells pumping when I drive through southern Illinois these days…
May 19th, 2008 at 6:12 pmDidn’t this guy use to salvage dead sattelites-not the automobile but the space junk?
May 19th, 2008 at 7:00 pmThen the f*cking EPA, OSHA, Federal/State/City-Permitting, EPA again, some never heard of government regulators and licenses showed up. Well shut down business called illegal etc…………
If the Government would just take the dam chains off the American gen pop we would in short order overrun any and all problems. There used to be a saying in a truly free capitalist nation “were there is a problem there is a profit waiting to be made”.
May 19th, 2008 at 8:35 pmGreat idea! There are probably hundreds of old oil wells around Oklahoma, my home state, that were capped decades ago because they were only producing a few dozen or hundred barrels of oil per day. Man, I wish I had just one of those pumping for me right now.
May 20th, 2008 at 12:36 am