Pump Your Own Oil? Sure Beats a Lemonade Stand

Amazing the things you can learn in a day. For example, I learned how to make my own toothpaste. Greg Losh learned how to drill for and pump oil. I think Greg’s idea is more profitable. According to this WISH TV story, eastern Indiana based Losh is pumping around 3 barrels of oil a day. It will take a bit of time to pay back the $100,000 or so it cost to drill the well. On the plus side, Losh is also getting some natural gas out of the deal. After a few years, at current prices, Losh could start to see a profit. If the oil stops flowing or the pricing bubble bursts (which I think is quite likely), then it could be a lot longer, if ever, before he’s in the black. Fun idea though. As for me? I’ll stick with the toothpaste experiment.