During the administration of President Richard Nixon, oil and petroleum companies operating across the United States abound. The country was filled with energy resource, but it came to a point when the companies stated that they will be leaving the United States to operate overseas. It alarmed President Richard Nixon, and ordered the legislative branch of the government to do something. The United States Congress decided to provide the companies with an incentive that would allow them to stay. Lawmakers submitted a bill to the Congress, referred to as the Statute 26-F, and it says that the United States will be giving an incentive to oil and petroleum companies that will be staying.
The incentive would allow them to operate without paying taxes, if they will agree to two conditions: first, they would have to stay, with about 90% to 100% of their operations being conducted in the United States. The second condition states that the oil and petroleum companies should be willing to provide freedom checks to the public. Some companies accepted the government’s offer and they started handing out freedom checks to anyone who wanted to purchase them. To distinguish themselves from other companies which have not taken the government’s offer, oil and petroleum firms under the Statute 26-F formed a group and referred to themselves as the Master Limited Partnerships, or MLPs.
This group of oil and petroleum companies sells freedom checks for as low as $50, and it promises a huge profit for those who will be purchasing a huge amount of checks. However, despite the great deal offered by freedom checks, only a few people are aware of it. Matt Badiali, a writer for the Banyan Hill Publishing Company, made a video explaining what these checks are. Being in the oil and petroleum industry during the first few years of his career as a geologist, he knew about the existence of these checks. He further explained how someone can earn thousands of dollars per month through purchasing these checks. After the video went viral, he is hoping that more people will be buying these checks to earn an additional income.