History of Royalty Trusts
Oklahoma businessman T. Boone Pickens created the first royalty trust in 1979 in response to the difficulty that Mesa Petroleum was having in replenishing its oil reserves. Through royalty trusts, he was able to substantially decrease his amount of effective reserves and avoid the difficulty of replenishing them.
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Famous quotes containing the words history of, history, royalty and/or trusts:
“We said that the history of mankind depicts man; in the same way one can maintain that the history of science is science itself.”
—Johann Wolfgang Von Goethe (1749–1832)
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)
“If there be no nobility of descent in a nation, all the more indispensable is it that there should be nobility of ascent—a character in them that bear rule, so fine and high and pure, that as men come within the circle of its influence, they involuntarily pay homage to that which is the one pre-eminent distinction, the Royalty of Virtue.”
—Henry Codman Potter (1835–1908)
“In society, in the best institutions of men, it is easy to detect a certain precocity. When we should still be growing children, we are already little men. Give me a culture which imports much muck from the meadows, and deepens the soil,—not that which trusts to heating manures, and improved implements, and modes of culture only!”
—Henry David Thoreau (1817–1862)