Member Article

Man to take on the oil industryâ??s big playersâ?¦

An American man is capitalizing on high crude oil prices with his own oil well - in his back yard.

Greg Losh from Indiana, tells WISH-T-V in Indianapolis the well that produces three barrels of oil a day is “a money-maker.”

The Canadian Press report that Losh says the oil supply comes from the Trenton oil field that fuelled growth in east-central Indiana more than a century ago.

Despite an initial investment of $100,000 needed to drill an oil well, he believes at today’s oil prices, it was well worth it.

As the best entrepreneurs are always on the look out for that next money-spinner, Losh expects to drill four more wells on his property in the town of Selma, about 90 kilometres northeast of Indianapolis.

The oil is stored in a tank and transported to Ohio for sale.

This was posted in Bdaily's Members' News section by Ruth Mitchell .