Oil
McLendon's father-in-law was former Louisiana Governor and oil magnate James A. Noe who, along with his partner, Governor Huey Long, formed the controversial Win or Lose Oil Company. The firm was established to obtain leases on state-owned lands so that the directors might collect bonuses and sublease the mineral rights to the major oil companies. Although ruled legal, these activities were done in secret and the stockholders were unknown to the public. Noe and Long made a profit on the bonuses and the resale of those state leases, using the funds primarily for political purposes.
Read more about this topic: Gordon McLendon
Famous quotes containing the word oil:
“Is a park any better than a coal mine? What’s a mountain got that a slag pile hasn’t? What would you rather have in your garden—an almond tree or an oil well?”
—Jean Giraudoux (1882–1944)
“I bade, because the wick and oil are spent
And frozen are the channels of the blood....”
—William Butler Yeats (1865–1939)
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)