Business: Treasure for the Tribes

From Houston and Albuquerque, El Paso and Denver, tough-trading oilmen from every major company have been converging on the Four Corners area of Utah, Arizona, Colorado and New Mexico to get in on one of the biggest oil rushes in U.S. history. The sellers: the Navajo Indians, who are fast learning to play what oilmen call "grunt and groan." As the bids for oil lands are announced, the tribesmen merely grunt, and as the prices soar higher, the oilmen groan.

Last week the groans were rising to a new crescendo. In the first 230,000-acre...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!