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Many Amish selling land to flee encroaching oil boom in Ohio, cashing in on royalties

2013-12-24 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Farmers in the close-knit Amish community who eschew electricity and most technology, are among landowners capitalizing on a new financial trend in the United States energy boom - selling decades of future oil and natural gas royalties for an immediate pile of cash. Gulfport Energy Corp, Chesapeake Energy Corp , Anadarko Petroleum Corp and others have spent billions developing oil and gas reserves on land in Ohio's Utica shale formation - often by agreeing to give landowners years of royalties,...

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