So that "point 9" was worth 5%! I sort of remember 32.9/gal in metro
Detroit, but I was too young to drive. My first car. a '69 LeSabre with
its 26 gallon tank remembered it though. Even in 1981, I could
nullify a fifty dollar bill with one tank. : )
Ditto my 21.3 cents/gal in Phoenix in '72, my first time away from
home. I'd fill up the old '68 Ford Ranch Wagon for under $3. I paid
$80 the other day for a Tundra fillup. <gack>
One word frees us of all the weight and pain of life: That word is love.
Come on, guys. Quit your bellyaching. Gas is $10/gal in EUrope, and
they still drive big cars on the Autobahn and Autostrada.
While the current high prices in the US are an aberration, inflation has
made 1 USD in 1970 worth over $6 in 2012. Add in the extra taxes that (I
believe) were levied on gasoline since, and you'll get very close to at
least $2 to $2.50. And as the oil crisis of the 70s showed, supply and
demand can out-duel sense anytime. You $0.15 cup of coffee of the early
70s (which was refilled at will), now costs a bit more too.
But but but I live in Texas!!! Driving across Texas is like driving
Across all of Germany 2~3 times. A trip from eastern Germany to western
Germany is like driving from one large city to the next in Texas, When
you don't have far to go price is not a big of a factor in living expenses.
If the United States was 250 miles across I would not have a problem
paying $20 per gallon.
That may be part of the equation, Leon, but there are plenty of people in
Europe who commute an hour or more each way, just like here in the NYC
area, and I'm sure around Houston as well. Yesterday I paid $3.65/gal at
cheap Eddie's, and it really should be under $3/gal. Let's see - China
and India are sucking oil. Iran has financial problems. Nigeria has
problems. Brazil has problems. Venezuela has Hugo C. Best thing is to
get to use less oil. Supply and demand will take care of the rest.
Granted. I watched a home buying show yesterday. They were looking for
a home in Texas and the number one factor in their search was the
commute time from the suburb to the city. It came down to being close
to friends and a two hour commute to the city or living close to the
city and being too far from friends. They ended up buying a home
midway between the two destinations.
All that space you Texicans have down there comes with a price.
Yep ... and the biggest price they have to pay is that most everyone
over 30 is from somewhere else (including me). ;)
Texas is especially beautiful at the moment. In a word, bluebonnets:
A trip to Brenham from Houston this past Sunday was treat for even the
I have a neighbor 2 streets over that has an oil well in their back
I am in a new neighborhood and I was laughing and giving the builder
salesman a hard time about that oil well. They had just brought in a
rig to do maintenance work on the well and it was a sight to behold.
I've always wondered how that works? What's to stop a nearby neighbour
from sinking an oil well in his back yard? My thought is that they'd
both be siphoning from the same pool of oil. Does the first neighbour
have whole or partial rights to that pool of oil? How do they
determine who owns what and who has a right to access it? Does a
surface land owner just have rights down into the ground just for his
square surface land rights? And finally, how deep do those rights go?
Honestly, the whole thing seems like a cluster*uck waiting to happen.
As long as he owns all the mineral rights, only the cost of drilling the
well. There are also state laws which may prohibit drilling in certain
That's a good chance, depending upon the size of your tract, and the size
of the producing reservoir. in most states, whoever can siphon it off the
fastest gets to keep what he produces from his tract, regardless of the
size of the reservoir.
Depends upon whether he owns any of the mineral rights. And he even if he
does, he may be forced to drill himself to get any of it, depending upon
the "pooling" acreage requirements of the state.
That varies from state to state, but whoever owns the mineral rights can be
determined by researching the records in the county or parish courthouse
where the deed records are kept.
That depends upon whether the mineral rights were sold with the surface
rights. In many cases, particularly in parts of the country where there is
a history of oil and gas production, mineral rights are often severed and
reserved from the surface rights.
And finally, how deep do those rights go?
All the way to the center of the earth. :)
Drilling for oil is an expensive and risky business, not undertaken lightly
and without an enormous amount of due diligence in establishing mineral
rights and ownership BEFORE drilling. There is an old saying in the "oil
bidness" ... " a dry hole cures all land titles" .... a successful well
will bring all sorts of heretofore unknown owners out of the woodwork.
In addition to Swingman's comments, IIRC there is also
1. Deed Restrictions.
This particular well is on about 1 acre piece of land that is accessed
from a road that is outside of the neighborhood and it was there long
before the land was developed into a master planed community.
This particular well is serviced with the rig about every 12 months for
a couple of weeks. Normally you do not see the pump behind the 8' tall
But, you stand a good chance of not winning by relying on "deed
restrictions" in that regard in a Texas court. :)
In Texas the "mineral estate" has been historically held to be the
dominant estate over the "surface estate".
Case law has made it very difficult to prohibit the owner of the
minerals from exercising the enjoyment of his rights as a mineral owner,
including physically drilling on the "surface estate", deed restrictions
be damned. :)
IOW, theoretically, at least in Texas and concerning these two separate
estates, you can't prohibit/nullify the property rights of a third
party, by contract between the two parties to a deed on the surface of
That said, as in all legal matters, you may have to sue to find out, and
be in for a rude surprise, for each specific case. :)
Last update: 4/15/2010
KarlCaillouet@ (the obvious)
Shhhhhhh ... the congresscritters have insured that fuel and food are
not indexed in inflation.
That has to be one of the more egregious actions pulled on the sheeple,
but they don't seem to give it a thought.
From someone who has been a patient at a VA hospital for 40 years. my
<actually, as long as you are capable of taking control of, and being
personally involved in managing your own healthcare, the VA hospital
here is, for the most part, an excellent facility.>
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