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 know only a single science, the science of history. One can look at history from two sides and divide it into the history of nature and the history of men. However, the two sides are not to be divided off; as long as men exist the history of nature and the history of men are mutually conditioned.”
—Karl Marx (1818–1883)
“I saw the Arab map.
It resembled a mare shuffling on,
dragging its history like saddlebags,
nearing its tomb and the pitch of hell.”
—Adonis [Ali Ahmed Said] (b. 1930)
“Powerful, yes, that is the word that I constantly rolled on my tongue, I dreamed of absolute power, the kind that forces others to kneel, that forces the enemy to capitulate, finally converting him, and the more the enemy is blind, cruel, sure of himself, buried in his conviction, the more his admission proclaims the royalty of he who has brought on his defeat.”
—Albert Camus (1913–1960)
“No married woman ever trusts her husband absolutely, nor does she ever act as if she did trust him. Her utmost confidence is as wary as an American pickpocket’s confidence that the policeman on the beat will stay bought.”
—H.L. (Henry Lewis)