Swedish Drilling Co. Strikes 'Oil'
Posted on: Wednesday, 12 February 2003, 06:00 CST
Swedish Drilling Co. Strikes 'Oil'
source: Associated Press Strange News
STOCKHOLM, Sweden - A Swedish drilling company thought it had hit pay dirt when a search for geothermal heat turned up oil instead.
But the celebration Tuesday was short-lived when engineers with Jonsson's Drilling Co. realized the black gold was actually in a long-forgotten underground storage tank.
The tank, buried six feet below the ground on Orust Island, 295 miles southwest of the capital, Stockholm, had about 130 gallons of oil in it.
"We were very surprised, but quickly realized it couldn't be a big oil find," company spokeswoman Margareta Jonsson told The Associated Press on Wednesday. "Which was just as well because the state would probably have taken care of any yield in the form of taxes."
Swedes pay some of the highest taxes in the world, with income taxes ranging between 30 and 60 percent. Taxes are also high on purchases, wealth and property.
Unlike neighboring Norway, the world's third largest producer of oil, Sweden has virtually no oil production.
Jonsson said the tank was removed from the ground by an oil clearing company.
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Copyright © 2003 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.
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