My family has been in the oil industry for about 100 yrs and have witnessed many booms and busts. My father had seen it before and that’s why he took the offer to sell his drilling company and mud company in 1980. He always told me that it is either chicken or feathers.
Danial Yeargin’s book the Prize points out the booms and busts that have occurred ever since Col. Drake drilled the first well in 1859. Anyone involved in the current boom would be well advised to put something back.
Smart dad. Mine sold out in ‘82. Always said it was chicken one week, feathers the next.