Here at In The News, we like to feature the profiles of those clients whose accomplishments delight, surprise, shock, or leave us awestruck at their sheer magnitude. Toby Roosevelt (the grandson of former President Franklin D. Roosevelt), is one of those people who has managed to achieve something that brings delight, surprise, and awe in equal measure.
Working together with his father, Elliott Roosevelt, at their company, Roosevelt Elliott Jr Oil and Gas, Toby Roosevelt has helped to develop a plan to extract more crude oil out of existing oil fields without causing heavy pollution or destruction in the surrounding area. This plan takes advantage of CO2 that would otherwise be wasted or released into the atmosphere to recover deep oil deposits in “dry” oil fields that were once considered too deep and costly to recover.
This technique, called carbon dioxide flooding, is a decades-old technique that was originally developed to pull oil from wells where the natural pressure that once pushed the oil towards the surface has run out. By using the CO2 produced by other industries in his carbon dioxide flooding plans, Toby can help reduce the carbon footprint (pollution) of major CO2 producers, even as he reaps the benefits of extra oil extraction.
Some of the deposits that Toby is planning to mine in are especially challenging for traditional oil extraction methods. A typical oil well might have as much as 30 percent water, and the rest of the liquid mass in the well would be mostly oil, but the Permian oil fields that Toby is planning to gather oil from are 70 percent water. Usually, the majority of the water in a well is pumped in manually to increase pressure so that the oil will continue to flow. In the Permian, natural rainwater has been flooding the oil deposits for millennia, creating an unusual challenge that most oil companies would rather avoid than have to adjust to.
As you might figure out by reading the Dallas News business article featuring his story, Toby Roosevelt has a long history of taking advantage of the ever-improving technology available to him to get returns on his investments much later on down the road. For example, back in the 1980s, Toby bought 34,000 acres of federal leases in a natural gas field which was declared “dead” by the industry. However, the advent of hydraulic fracturing techniques allowed drillers to reach new deposits, and they bought out Roosevelt for $285,000,000.
Even in this latest endeavor, it is expected that the carbon dioxide flooding will take decades to remove all of the oil in the field, meaning that Roosevelt’s profits will be spread out over the next 20 or 40 years. While other major oil executives make the rush for increasingly scarce shale deposits that can be cleared out in a year or two, the efforts of Toby Roosevelt and his company will help improve the total sustainability of the oil industry, and reduce environmental hazards. Patience is a virtue, and one that Toby has in spades.
By thinking ahead and looking at the potential applications of technology over a long period of time, Toby is helping to alleviate the high cost of oil and proving that there are great businessmen out there who can take care of both their company and the environment.
Making the Name His Own
When asked about his name, and consequently his relationship to his grandsire, Toby is quick to point out that his last is only a name. He is a man who is dedicated to doing everything he can to set himself apart as an achiever of great things in his own right, without relying on his family’s past accomplishments. He wants people to hear the name Roosevelt and think of him, not his famous grandfather. With high-profile projects such as the one in the Permian oil fields, Toby seems to be well on his way to making the Roosevelt name his own.
Commemorating the Big Project
Given the potential positive effect of Toby’s efforts in Permian oil fields, both on the price of gas and for the environment and sustainability of the oil industry as a whole, it is little wonder that he has managed to gather so much attention from the media. In a time where the cost of a fill-up is becoming more and more painful for consumers across the country, anything that has the potential to alleviate the pain at the pump is something that is definitely worthy of national attention.
To commemorate the media coverage for his project in the Permian oil fields, Toby commissioned several mahogany plaques from In The News, Inc. to decorate the walls of his company. The employees who work for the company can see the news stories highlighted in the plaques and know that their hard work does have an effect, not only on the company but on the country as a whole. These plaque aren’t just for the benefit of Toby and his dad, but for everyone who works for them.
That Toby ordered the plaques for the benefit of his workers is a sign of incredible humility and compassion. It’s for that reason that we think Toby is a great customer and is definitely worthy of a highlight on our website. Better yet, because the plaques seal the articles away from exposure to the elements, the employees at his company can continue to enjoy and be inspired by the stories contained within for decades to come without the articles becoming yellowed, cracked, or torn.
With the way that Toby has used these plaques, they are more than just another office decoration, they are a symbol of Southern Hospitality. As a resident of the great state of Texas, Toby has found a way to provide the country with much-needed resources without ruining the beauty of the Texas landscape.
We here at In The News hope that Toby continues to find creative uses for technology that benefit both the country’s economy and the environment. If you would like to learn more about the plaque creation process, or need help with your own plaque order, contact us or call 1-800-548-3993.