Tuesday, November 06, 2007

T. Boone Pickens Buys Land Without Oil

T. Boone Pickens, the wealthy oil trader, recently acquired eight acres of land in Texas with no oil on it; however, it does has water rights and Pickens is using the land to set up a Water District and sell municipal bonds. He plans to build a 328-mile water pipeline from the Panhandle to San Antonio and Dallas.

I guess water has replaced oil as the latest liquid investment.

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