Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

N. Dakota's New Crop: Instant Millionaires

Oil far underground makes landowners rich overnight

By Sam Gale Rosen, Newser Staff

Posted Jun 30, 2008 8:57 PM CDT

(Newser) – Many North Dakotans are enjoying their own milkshakes as oil makes landowners instant millionaires. Oil companies are drilling new wells at record rates, and those lucky enough to own the land above deposits are becoming wealthy overnight, the AP reports. "It's the easiest money we've ever made," says an ex-sales clerk.

The president of the North Dakota Petroleum Council puts the number of new millionaires, anecdotally, at one a day. Some large new homes are being built, but most North Dakotans "don't want people to know how much money they got and they don't want to be tagged with being wealthy—they want to be themselves," says a local government official.

What're they building over there? ((c) Afroswede)

North Dakota is now full of Jed Clampetts. (hollywoodclassics3)

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

Millionaire Hospitalized After Schlocky Spending Spree

Ed Bazinet blew about $60M on tchotchkes at two trade shows

(NEWSER) - A wealthy Manhattan businessman was hospitalized in a mental institution after spending $20 million on ice-cream scoops, barbecue tools, scented sachets, and other gewgaws at the New York International Gift Fair, reports the New York Post . Ed Bazinet, who struck it rich selling ceramic figurines, went from booth to booth ordering thousands of tchotchkes. More»

Iran Cuts Off Oil Exports to 6 EU Countries

Move comes in response to sanctions

(NEWSER) - Iran is having quite the day: In addition to trumpeting its recent nuclear achievements, it also thumbed its nose at EU sanctions "against Iran's energy and banking sectors" by cutting off oil exports to six European countries. The Netherlands, Spain, Italy, France, Greece, and Portugal are the affected countries, reports the AP . Iran's oil minister had recently warned that just such a move could occur. The Wall Street Journal notes that the news sent Brent crude-oil futures to a six-month high. More»

Admiral: Iran Has Suicide Boats

Mark Fox says Iran threats dangerous, but US Navy has 'very effective' options

(NEWSER) - Iran has significantly built up its naval arsenal, adding more fast attack boats and some ships that "have been outfitted with a large warhead that could be used as a suicide explosive device," US Vice Admiral Mark Fox told reporters yesterday, according to Reuters . Iran also now has 10 small submarines and an array of long-range rockets and ballistic missiles, he said, acknowledging that Iran was "capable of striking a blow" against the US. More»

'Fighting Sioux' Backers Fight to Restore Name

North Dakota to hold referendum on team name

(NEWSER) - Another battle looms in North Dakota's long-running fight over the Fighting Sioux. The University of North Dakota has been trying to retire the nickname and logo deemed offensive to Native Americans, but the name's supporters say they have gathered enough signatures to force a statewide referendum on the issue in June, reports AP . The name has been removed from some UND team uniforms to avoid NCAA sanctions . More»

Music Mogul Leaves $1.5M to Chauffeur, Doorman

And Alan Meltzer's ex-wife wants you to know that she really, really doesn't care

(NEWSER) - A chauffeur and a doorman are suddenly well-off after music mogul Alan Meltzer left them both a large chunk of his $10 million estate. Meltzer "was such a nice guy," says his chauffeur, who got $1 million. "He was always joking. He never looked down on anybody." The former head of Wind-Up Records died about a year after divorcing his wife. His doorman received around $500,000. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

N. Dakota's New Crop: Instant Millionaires

Oil far underground makes landowners rich overnight

OTHER STORIES ON OUR RADAR

oil • North Dakota • millionaires

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Millionaire Hospitalized After Schlocky Spending Spree

Ed Bazinet blew about $60M on tchotchkes at two trade shows

Iran Cuts Off Oil Exports to 6 EU Countries

Move comes in response to sanctions

Admiral: Iran Has Suicide Boats

Mark Fox says Iran threats dangerous, but US Navy has 'very effective' options

'Fighting Sioux' Backers Fight to Restore Name

North Dakota to hold referendum on team name

Music Mogul Leaves $1.5M to Chauffeur, Doorman

And Alan Meltzer's ex-wife wants you to know that she really, really doesn't care

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?

N. Dakota's New Crop: Instant Millionaires

Oil far underground makes landowners rich overnight

Bookmark & Share

OTHER STORIES ON OUR RADAR

oil • North Dakota • millionaires

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Millionaire Hospitalized After Schlocky Spending Spree

Ed Bazinet blew about $60M on tchotchkes at two trade shows

Iran Cuts Off Oil Exports to 6 EU Countries

Move comes in response to sanctions

Admiral: Iran Has Suicide Boats

Mark Fox says Iran threats dangerous, but US Navy has 'very effective' options

'Fighting Sioux' Backers Fight to Restore Name

North Dakota to hold referendum on team name

Music Mogul Leaves $1.5M to Chauffeur, Doorman

And Alan Meltzer's ex-wife wants you to know that she really, really doesn't care

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?