Black gold in Kentucky, at least at these prices

In response to our post on oil and the macroeconomy, reader Henry Neltner writes:

Did you know there are over 12,000 oil wells in the state of Kentucky alone? Old oil wells that were not profitable when oil was around 15 bucks a barrel are now being tapped as the price
makes it affordable to pull oil from the ground. Drillers are using water as a means to bring it up..... Wells that are producing about 30 to 50 barrels a day are being pumped in the southern part of the state. These wells were abandoned back in the 80's but now are producing big bucks for small investors.