100 billion reasons to have non-reportable assets

Jon Alternative Media, Banking, Economy, Energy

In early March 1938 in a dusty corner of the Arabian desert, Max Steineke finally had the breakthrough he was hoping for.
Steineke was the chief geologist for the California Arabian Standard Oil Company (CASOC), a venture owned by what we know today as Chevron.
And he hadn’t had a lot of success despite years of effort.
Steinke was convinced that massive oil reserves were beneath the sands. He just couldn’t find any.
His prized oil well, what was called Dammam #7, had been riddled with mishaps, accidents, and delays, and it was costing the company a LOT of money.
Steinke was about to be shut down when, finally, on March 4, the well started gushing. And Saudi Arabia was never the same.

This post was published at Sovereign Man on November 20, 2017.