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They found that East Texas was a “poor man’s pool,” not only because, with the majors not aggressively buying up land, oil leases could be obtained at reasonable prices, but because, at 3,500 feet, the oil was relatively close to the surface and the drilling was relatively inexpensive; since the East Texas oil was a high-grade, light-gravity oil wi
... See moreRobert A. Caro • The Path to Power: The Years of Lyndon Johnson I
