The United States had a significant oil crunch in 1978, including long gas lines and the imposition of energy price controls and windfall profit tax because of the rapid rise in oil prices. I was running seismic crews for Mobil Oil and could not get quotas for gasoline from the government to run seismic crews to find more oil and gas. One of the key technical reasons this level of energy crisis has not been repeated since then is the success of 3-D seismic in finding additional hydrocarbon reserves. Landmark rode this wave as a technology innovator. I left Landmark in 1992 and started another company which did not do so well. In fact I guaranteed loans with Landmark stock and when the stock went from $24/share to $8/share and the new company did not meet sales projections the bank took away my stock. So when Halliburton paid $550 million in 1996 for Landmark Graphics I did not have any founders stock left to participate in the upside. I had an MBA from SMU. However, I did not have an education in money management and thus my life was much different than it would have been had I had a financial education. Degrees open doors. An education helps you stay in the room and keep playing the game.
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