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- 🛢️ Dad Joiner: Millionaire of the Week
Good morning, here's what the OilPatch Team has for you today:
Millionaire of the Week: Columbus Marion Joiner
The serial fortune maker
Columbus Marion “Dad” Joiner was the man who discovered the East Texas Field.
But before that, he first lost a fortune he made from real estate.
One of the most colorful wildcatters was a jack of all trades.
He used to be a lawyer—even though he never studied law.
He dealt in real estate.
He also served at the Tennessee House of Representatives for a while.
He was also a farmer at one point.
And then he got the oil bug.
On this day in Texas history, in 1930, Columbus Marion "Dad" Joiner brought in the famous Daisy Bradford No. 3, in Rusk County, opening up the East Texas Oilfield, the largest in the world at the time. His moniker came from the fact that he was the "father" of East Texas oil.
— Derrick G. Jeter (@derrickjeter)
4:05 PM • Oct 3, 2024
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Fixed-Rate Returns for Accredited Investors
How does it work?
You purchase a bond from ROX Energy Capital
You are now a bondholder with the right to receive a 10% fixed annual return — payable monthly.
ROX Energy Capital Buys Working Interests
Bond proceeds are used to purchase non-operated working interests in oil and gas properties. ROX Energy Capital receives the recurring cash flow from these “non-op" working interests for the life of the asset.
You get paid
Bondholders receive their monthly interest payment from ROX Energy Capital for the term length of the bond.
Learn more at ROX Energy Capital
EIA Expects Less Oil Growth
U.S. oil production will grow by just 300,000 bpd this year.
This will further slow down to 100,000 bpd in 2026.
All because of weak demand, the EIA said this week.
But you know what? The EIA has been wrong before.
EIA STEO
US🇺🇸Crude Oil🛢️Production is going to be flat going forward... when it has been the only source of significant growth in the last 15 years
— Jorge ARJONA (@jorge_moj)
4:31 AM • Jan 15, 2025
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Tweet of the Day
California is the richest state with the highest taxes and yet it cut funding for firefighting, which led directly to L.A.'s catastrophic fires. Why? Because Newsom & Bass diverted billions from preventing and fighting catastrophic fires to migrants, homeless, and climate.
— Michael Shellenberger (@shellenberger)
6:02 PM • Jan 15, 2025
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