Black People : Haynesville Shale and Possible Black Reparations?

Discussion in 'Black People Open Forum' started by Blackbird, Aug 9, 2008.

  1. Blackbird

    Blackbird Well-Known Member MEMBER

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    Pardon y'all because this is a repost from Sis. River's Reparations thread, but I wanted some feedback and to broadcast a possibility. Sorry I was too lazy to retype a fresh entry.

    Here is some information. You can take it for better or for worse, depending on your perspective.

    Recently, back in the area where I'm from, there has been much ado frenzy about a discovery that has the potential to transform my "home" radically: the Haynesville Shale. Although the area has been mapped by the government years ago and the actual resource discovery known for over 80 years, the possible impact of the Haynesville Shale has become greater than anyone previously suspected. The Haynesville Shale, in layman terms, is a deposit area of natural gas. It is possibly the largest deposit of natural gas in the country and the 4th largest in the world.

    There is a conservative oilman, by the name of T Boone Pickens, who is currently investing up to $58 million of his money to finance a personal campaign to get the current presidential candidates to consider promoting wind power and increase natural gas use to compensate for oil. It is said the Haynesville Shale can remedy the nation's energy "crisis" and fuel cars and other industries.

    What's the relevance to Black folks and reparations? Earlier in a previous post, I stated how First Nations people were able to parley their resources for an economic windfall, converting "raw" resources to tangible economic enterprises and endeavors such casinos, telecom companies, international contracting projects and so on. Well, many Black people own a fairly significant share of the acreage in this natural gas play. My fam has about 200+ acres. When interest first came to this area back in February, the average cost of leasing an acre for natural gas expulsion was about $200-$500 an acre. This figure has increased exponentially in a course 6 months to an average of about $15,000-20,000 an acre, with some isolated reports of in excess of $25,000 an acre. The royalty percentage is currently set about 25-28% over the life of a three year lease. A friend of mine and conscious mentor was recently offered $17,000 an acre lease bonus and 25% royalty. He declined when he discovered his white neighborhood were offered over $20 Gs.

    This discovery has made some people and families instant multimillionaires overnight. At the going rate, my family alone is stand to receive $3 mil just off the lease bonus. One of the issues facing many local Black landowners is the lack of information of what they can lease their land for so many are getting robbed or are signing for paltry amounts less than $10,000 an acre. Another problem is shabby startup companies are approaching Black landowners with a relatively low offer and a contract designed not to lease, but outright purchase their mineral rights and land. These companies, then, in turn lease the rights to the major players at a much higher going rate and exaggerated profit margin. A few conscious minded people from back home are banding together to create a coalition to ensure ecological integrity and negotiate the best deal for their acres. I'm watching with baited breathe and hoping that we can parlay this opportunity into an actual blessing for those involved and a benefit to the Black community overall.

    Blackbird

    Addendum: I'm returning home at the end of August to help organize efforts and form a coalition to negotiate the best offer with the least risk. We have a few legal minds that will be reviewing the contracts and provide consultation and input. If we are able to effectively leverage our value, we hope to set a precedence and initiate a trend of conscious minds banding together to convert our assets, whatever they may be, into something truly beautiful for our folks. The counsel and assistance of the Lwa and Orisa will be petitioned in a collective ceremony to ensure victory is on our side. My home city is predominately Black, ran down and busted; but these O&G companies have dropping dollars into the coffers, sometimes (for some local towns) in excess of $ 10-40 million of their yearly operating budgets
     
  2. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    Thanks for sharing this info. Some of us here belong to networks on ning.com Here is a link you might be interested in.

    http://haynesvilleshale.ning.com

    I will look further into this and add some links to my blogsite. I still got fam nearby and was round that way a few weeks ago on the road back to Cali. Only thing is my uncle was moving to Atlanta, Texas and is now reconsidering. So I dont know when I will get back that way.

    Peace
     
  3. Blackbird

    Blackbird Well-Known Member MEMBER

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    Peace!

    Uncle, I have signed up to this particular site and it has been one of my major resources besides my eyes and ears on the ground. The Atlanta, TX area is much in play as well since the shale extends from Northwest Louisiana into smaller portions of East Texas and Southwest Arkansas. The potential of this can be huge if the cards are played right.

    Blackbird
     
  4. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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  5. Blackbird

    Blackbird Well-Known Member MEMBER

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    The major theme of this thread is not so much the news of this "discovery", but the idea of our people rallying behind a possible economic opportunity and maximizing it to the benefit of all concerned. One of my friends once said, "Why do they call capitalism capitalism? Before the white folks know how to capitalize on the smaller window for their benefit."

    Blackbird
     
  6. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    Wow! I see. My folks own about 7 acres up there and I was considering buying some myself but things changed. I may have to reconsider. Check the video. Its an interesting find which talks about how the officials in Shreveport are working with Ft. Worth. The job creation alone will be enormous.
     
  7. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    I got it. Here is another link for a landowner's association.

    http://www.haynesvilleshalelandowners.org

    I dont know if my folks are still in Natchitoches but there are some in Shreveport and around the Red River even extending into north Texas up to OK.
     
  8. Blackbird

    Blackbird Well-Known Member MEMBER

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    I called back to Nubian Express bookstore today and a friend joked that I needed to move back because is going jobs. I hope my hometown of Shreveport can boom.

    Blackbird
     
  9. Blackbird

    Blackbird Well-Known Member MEMBER

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    An Update:

    We are in the initial planning phases. We intend on creating a trust account to deposit the "mailbox money", the lease bonus checks. Another conscious brother of mine was about 3 days ago offered a $25000 an acre. He has about 20 acres. That's a half of a million dollars. Of course, that pre-tax but I believe we can see the potential here. So my suggestion is using this initial "chump change" to serve as a catalyst for identifiable economic benefits.

    Any suggestions, comments and thoughts are appreciated?

    Blackbird
     
  10. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    I have one suggestion if you have people who might be interested. I wonder how many people have parcels that have been surveyed and reassessed for property values. My thinking is the possibility of having property surveyed, reassessed and then sub-dividing, then maybe leasing out instead of selling out. Looking at long term development. This would require establishing development corporations. One or more that way each family or group of families become developers. In direct competition with white developers but with inside advantage of being property owners.

    I mention this because its similar to what some relatives of mine did when they bought property in California in the 60s in places such as Palm Springs, Riverside, San Luis Obispo and Paso Roles. My Dad and great Aunt in particular. My Dad eventually sold some of his land in Paso Robles when they started building an airport. Some of the land in Riverside in the 60s he bought for as low as $20 an acre. My Aunt had numerous apratment complexes and one in Sugar Hill (West Adams area of Los Angeles) had natural gas which she had mineral rights to and instead of selling she leased out.
     
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