White Paper
People's Petrol Token (PPT)
BRIEF OVERVIEW:
The People's Petrol Token has been created to help reduce the cost of gasoline for the American consumer. That is our primary, ultimate goal. In the United States today, the cost to make a single gallon of gasoline runs between $2.40 to $2.70. That includes EVERYTHING, including the costs of drilling, extraction, refinement, and transport. Unfortunately, the average cost of gasoline in the USA is around $3.10 per gallon, and in some parts of the USA it is much higher (between $4 to $5 a gallon).
That means that the Big Oil companies are making between 40 cents to a dollar (or more) profit PER GALLON, and marking up the price of their product by between 40% to 100%. They can do this to us because we, as consumers, have NO ALTERNATIVE SOURCE. Despite the slow but steady shift to Hybrid cars and EV's, the vast majority (about 90%) of all US cars still run on gasoline. America (and the world) is addicted to gasoline, and the Big Oil companies have us at their mercy. They don't care if the price of gas makes it prohibitively expensive for people to own cars, and forces them to spend more and more of their meagre wages on gasoline. They are CAPITALISTS, and they just want to make as much money as possible.
If only someone would be willing to create an ETHICAL oil company, that would be satisfied with a much smaller markup (say 10% above cost). If such a company existed, it could sell gasoline for about $2.75 a gallon, and STILL MAKE A PROFIT.
That's what we intend to do.
As outlined on our homepage, we intend to break into the oil business and (eventually) control our entire supply chain; from oil well to gas pump. By so doing, we will be able to keep costs low, and pass those savings on to our customers.
The State of Things
Currently in the United States, there are about 25 small- to mid-sized oil companies. These are little guys, and the best of them in 2022 made a record 1.5 billion dollars in profits. In comparison, the top 5 oil companies in the world made almost 200 billion dollars in the same time frame. We are going to join the ranks of the little guys, but our oil company will be very different.
Two Big Differences
First and foremost, we promise to run our company for the betterment of the American consumer. That means providing high quality gasoline at no more than 10% above cost. That's going to translate to REAL SAVINGS for our customers. At this point in time I can't actually say what the price will be, but I'm hoping for somewhere around 75 cents LESS per gallon than what the Big Oil companies charge.
Second, we intend to achieve that by being completely self-sufficient, as far as the supply chain is concerned. To my knowledge, none of the small oil companies in the USA run their own refineries and/or gas stations. They make their money by extracting oil and selling it on the open market, which has been very profitable lately. While we may do that temporarily so as to save up funds for our next phase, that is not our end goal. Our end goal is to OWN EVERYTHING, and have everything run by OUR OWN EMPLOYEES, thereby reducing costs to an absolute minimum. If we own the oil well, the trucks that carry the oil to the refinery, the refinery itself, the trucks that carry the gasoline, and the gas stations themselves, we will control the entire supply chain. If all the people working at all those sites are our employees, we will be able to create a great culture (one Big Family) and keep our labour costs low as well. With all this, we will be able to be in total control of what our costs are, and meet our ultimate goal of providing high-quality, inexpensive gasoline.
The Way Forward
At time of writing, April, 2023, the token has been created, and the next year or so needs to be focused on getting it advertised and sold to the public. The funds gathered from the initial sales will be used to hire our legal team and get our company incorporated in the USA. After that, we will continue to advertise our token and search for oil exploration professionals to join our team. We will purchase at least one and perhaps as many as three initial leases, and send in our teams to start drilling test wells. Once one of them comes back as successful, we will hand the well over to the full-time extraction team, who will start pumping the oil in earnest. We will then need to work out the best buyer for our oil, and start accumulating even more capital (all of this will be 100% transparent). Once we have acquired enough funds and have enough working wells (perhaps 10), we will work on purchasing and renovating an old refinery in the USA. Ultimately, and this may take between 5 to 10 years, we intend to create our own gas stations in the USA, selling gasoline at a fixed 10% profit. 10% of those profits (1% of our annual revenue overall) will be used to purchase People's Petrol Tokens, in our own version of a "stock buyback," designed to slowly and steadily elevate the price of the token.
Our Purpose
At the People's Petrol Token, it is our mission to:
a) found an ethical oil company that sells gasoline cheaply
b) create a long-term crypto token that increases in value annually
and
c) prove that the people do NOT have to be hostages to Big Oil.
FULL WHITE PAPER
1 INTRODUCTION
The People’s Petrol Token (PPT) is a brand-new crypto currency that has been minted for one primary purpose: To reduce the cost of gasoline for the American consumer.
Simply put, the money generated by the sale of PPT will 100% be used to create a corporation in the USA dedicated to providing high-quality, inexpensive gasoline to the public. The price of that gasoline will NEVER BE MORE THAN 10% ABOVE COST.
For example, if it costs the company $2.00 to make one gallon of gasoline, then the total price to the consumer will be $2.20. If it costs $2.50, then the cost will be $2.75, etc. By fixing our profit cap at 10%, we will be able to make just enough money to keep the company sustainable, and simultaneously make life better for tens of thousands of Americans.
And, holders of PPT will be rewarded for their faith in the company by the company’s monthly use of 10% of its profits to purchase PPT tokens. Thus, the success of PPT is good for the company, and the success of the company is good for PPT.
This is a LONG-TERM project, designed with an end goal of between 10-30 gas stations operating in the USA by 2033.
Please keep reading for the full details.
2 OUTLINE
This document will be organized as follows:
3 The Idea – where an explanation of our Main Idea (that the world needs an Ethical Oil Company) will be laid out.
4 The Token – where an explanation of the PPT token itself will be made.
5 The Team – where an introduction to the key personnel at the PPT Foundation will be made.
6 The Company – where an explanation of our Corporate Vision will be laid out.
7 The Road Map – Part One – where the first stages of our plan are identified and explained.
8 The Road Map – Part Two – where we are at the time of writing.
9 The Road Map - Part Three - where we see this project at the mid-point, perhaps 3-5 years from now.
10 Home Stretch – where the company’s larger projects become a reality.
11 The Finish Line – where we achieve most of our corporate goals, and have created a thriving, Ethical Oil Company for the betterment of the American people.
3 THE IDEA
From Mark Turner (CEO):
The Idea for creating an Ethical Oil Company has been percolating (pun intended) in my brain for over two decades now. I first arrived in Australia in 2002, and shortly thereafter I saw a newspaper article that said that China had purchased the next 25 years’ total supply of liquified natural gas (LNG) that was going to be produced from a huge gas field that had been discovered in the ocean just north of Australia. At the time, this was the largest LNG deal in Australia’s history, worth approximately $25 billion dollars Australian. The problem was, the Australian people themselves were getting very few benefits from this deal. Yes, there were going to be jobs for the employees of the huge corporations who had been contracted to extract the LNG, and the Australian government would make money in the form of lease fees for the gas field and taxes, but that was all peanuts compared to the profits that were about to be made. Essentially, the Australian government was going to be making pennies, while the Big Oil companies were going to be making dollars, on every litre of LNG extracted.
“But, wait” I cried, “this makes no sense. If the gas field is offshore, that means it’s on Federal lands. If it’s on Federal lands, it’s essentially on public land. If it’s on public land, doesn’t the gas actually belong to the Australian people?” I asked. “Why doesn’t the government create its own corporation, as part of the Department of Energy, to extract the LNG and sell it directly to the Australian people? That way, the government would get a bigger share of the profits, and the people would get cheap LNG.”
Of course, my ideas were sacrilegious.
“It doesn’t work that way!” exclaimed the politicians in Canberra and the lobbyists for the Big Oil companies. “That’s Socialism/Communism!” screamed the rabid capitalists, as they continued to rip off the Australian people at the gas pumps. However, since I was a new arrival to Australia with zero power and lots of other things on my mind, I let the matter go, but I never forgot about it either.
Fast forward to 2023, and the war in Ukraine has been used by the Big Oil companies as an excuse to yet again raise gasoline prices and gouge their customers. This time, I’m not taking this lying down.
The advent of cryptocurrencies has created an opportunity to do something about this blatant injustice. The funds raised from selling PPT will allow me to act as a surrogate for the government and create the world’s first Ethical Oil company. We will raise capital by selling PPT, and then use that money in the USA to incorporate a brand-new oil company (a little one). We will then use that money to bid on oil exploration leases from the US Government (25% of all oil produced in the USA is on Federal land). Once we have our plot(s) of land, we will hire professionals and either rent or buy the equipment needed to extract the oil.
At first, we will sell the crude oil on the international market, and save up the profits we make (all except 10%, which will be used to buy PPT tokens). When we have enough money, we will build or buy our own refinery, and start refining approximately 50% of our oil. We will then purchase and renovate our first gas station, where we will annoy the HECK out of the big oil companies by seriously undercutting their prices. With our promise of cost plus 10%, our gasoline will be super cheap, and our business will be a huge success (I hope).
Final Outcome:
Our Ethical Oil Company will make only 10% profit.
The American people will get cheap gasoline.
PPT holders will see their token price rise steadily, due to the 10% of our profits invested monthly.
That’s my Idea.
Mark.
4 THE TOKEN (PPT)
The Coin as Code
The code for the People’s Petrol Token (PPT) is nothing new or revolutionary, however the ways we intend to use the coin and the money generated by its sales, most certainly will be.
As a coin, PPT is just a common crypto token, the code for which was downloaded freely from the Web. The code can be viewed on BSCscan here:
https://bscscan.com/address/0x8e334d075416020b30cb7af2ac9c454377c02c25#code
Please feel free to scan or otherwise interrogate the code; you’ll find that no changes have been made to the original source code aside from creating its name, its symbol (PPT), and the total public supply of 888 billion coins. This is NOT a scam coin; nothing has been done to alter the code to prevent purchasers from selling (like the Squid Game coin), and you are free to sell your coins at any time. I have provided some useful tools for interrogating the contract:
https://www.avengerdao.org/riskScanner
Just copy and paste the token’s contract, 0x8e334d075416020b30cb7af2ac9c454377c02c25
and you’ll get a score for how risky or trustworthy the token is.
The Coin’s Ecosystem
The process of buying and selling PPT has been kept deliberately simple. There are no “fees” such as those previously used by scams like SafeMoon. All one has to do is visit Pancake Swap and exchange their BNB for PPT.
Note: At the time of writing, 26 April, 2023, PPT is still so new that it won’t be easily found on Pancake Swap. You need to copy the contract address:
0x8e334d075416020b30cb7af2ac9c454377c02c25
and insert it manually. Also, Pancake Swap lets buyers know that the coin is new, and was added to Pancake Swap by a User, and not by an exchange. Normally this would be a Red Flag, but in this case, it is just because the coin is still so new that it hasn’t be widely traded or accepted yet.
Additionally, there are no gimmicks or other enticements associated with PPT. You do not earn interest by “staking” your coins, or anything like that. This is a straight investment. You are purchasing PPT because you believe in our end goal of creating an Ethical Oil Company, (or you are just hoping to make a profit). Either reason is fine, and we will do our part to keep all transactions simple and honest.
Usage and Utility
As for the coin’s usage and ultimate utility, this is where PPT is very, very different from your average cryptocurrency. Since the coin will be part of a “hybrid business model,” in which crypto generates capital for a real-world business, it only makes sense that the coin should be accepted at that company in the real world. Therefore, once our first gas stations are operating, we will accept PPT as payment there, for everything from gasoline to potato chips. We may even eventually have PPT ATM’s in our gas stations, where people can exchange their PPT for US dollars.
The Coin’s Long-Term Future
Because PPT will be “connected” to our gas stations in the future, the long-term potential for growth of PPT is excellent. As mentioned previously, once the funds originally raised by sales of PPT have been used to establish our first oil well, we will begin funneling 10% of the profits from that oil well back into PPT. And as the real world company expands, the amount spent on purchasing PPT monthly will increase as well. Although the percentage of profit will not increase (capped at 10%), the addition of more oil wells and gas stations will increase the amount of cash invested in PPT every month. This will mean more and more PPT being purchased, fueling (pun intended) a slow and steady increase in the price of the token.
5 THE TEAM
Mark Turner
Founder/CEO/COO/CFO/CTO/CMO/CHRO/CC&BW
(that last one is “Chief Cook and Bottle-Washer”)
So, yeah, it’s pretty much me, myself, and I at this point. (and that picture of me is from 10 years ago when I was in the Air Force Reserve – best picture I’ve taken in years)
Nevertheless, I have high hopes of adding some names and faces to this White Paper in the near future. Are you honest and crazy? E-mail me on enquiries@peoplespetroltoken.com and let’s talk.
I guess I should tell you a little about myself. Well, I’m an American/Australian (dual citizen), and I live in Sydney, Australia. I was born in the late 1960’s in the San Francisco Bay Area. My Dad owned his own business (Turner & Co. Plumbing and Heating), and my Mom was an English teacher. My life in the USA was pretty normal, and I was just an ordinary worker at various jobs. I learned Spanish in high school and Chinese at university, and I finally got a chance to visit China in 2000. That’s where I met my future wife, and I came here to Sydney in 2002 to marry her, so I’m technically a “mail-order groom.” (She was a permanent resident, so I kind of married my way into the country.) My life here is very good: I have a lovely wife and two beautiful daughters, as well as a decent regular job. To pay back Australia for being so good to me, I volunteered for five years in the Rural Fire Service, and served seven years in the Royal Australian Air Force Reserve. I’m smart, but not in the right kind of way. I have four associate’s degrees, two bachelor’s, and eight master’s degrees, but they’re all in subjects like History, Asian Studies, or Liberal Arts. Wonderful, but not particularly useful. (Sigh.)
Still, I’m not giving up. I really want to make the PPT token a success, and by way of that, create the world’s first Ethical Oil Company. I want to do something useful with my life, and make the world a slightly better place because I was here.
6 THE COMPANY
Mark Turner again:
I have a very specific idea of the type of company I want to build, and this is my dream.
If I’m using the money made from PPT to build an Ethical Oil Company, I believe that obligates me to create a company that exemplifies ethical and honourable behaviour. Therefore, here are some of my future rules and expectations:
Obviously, I will need to start off by hiring experienced professionals, as drilling for and extracting oil is a highly specialized skill. However, I will only hire individuals willing to teach and mentor new employees as part of their duties. Most of our new employees will be total newcomers who have the right ATTITUDE, even if they are inexperienced in the world of oil-drilling. They will shadow their mentors and learn on the job (and in the classroom), and slowly and steadily rise within the company. As we acquire more wells, they will move on and act as supervisors and teachers themselves.
Also, ALL EMPLOYEES WILL BE ON A MONTH-TO-MONTH CONTRACT. This is NOT to abuse or exploit our workers, but rather, to allow for the separation of employees who “don’t fit” in our particular workplace.
I don’t care if you’re gay or straight.
I don’t care if you’re a man or a woman, or anything in between.
I don’t care about the colour of your skin or where you were born.
I do care GREATLY about your ability to work hard and get along with your fellow workers.
If you are any kind of a “problem child” who acts arrogantly, or rudely towards your fellow workers,
YOU WILL NOT BE PICKED UP AT THE END OF THE MONTH.
It’s that simple.
This company will be made up of like-minded, (open minded), kind, patient, honest, polite individuals.
If I receive complaints about you, I will look into it. If your fellow workers tell me that you are a problem, you will simply not be rehired once your month is up.
I can hire and train new people. What I WON’T do, is make your co-workers put up with your shenanigans just because you are useful or competent.
EVERYONE can be replaced. From the General Manager on down.
If you don’t like it, don’t bother applying.
7 THE ROAD MAP - PART ONE
Everything I have done to mint the token and get it ready.
Obviously, the very First Step was formulating my Idea and deciding to create the Ethical Oil Company. I’ve moved beyond that stage now, as I am firmly committed to spending the next ten (and more) years of my life making this work.
So, I started by doing some online study about creating a cryptocurrency, and then created the People’s Petrol Token (PPT). Here is the token’s contract address:
0x8e334d075416020b30Cb7AF2AC9c454377C02C25
Creating the token was relatively easy (just copy and paste from various websites). If you want to see the code itself, it’s here on BSCscan:
https://bscscan.com/address/0x8e334d075416020b30cb7af2ac9c454377c02c25#code
To most ordinary people, it’s just gibberish, but there is one important thing to note at the very top:
"Submitted for verification at BscScan.com on 2023-03-11"
In other words, I had BSCscan confirm that the code was legitimate, and not malicious in any way, and it passed.
To be honest, with regards to HOW I minted the coin, I may have made some mistakes.
First, I minted a very large amount of initial coins, mistakenly believing that a very low initial price would be attractive. This may be the case, but I have since learned that making a coin TOO cheap is just as bad as making it too expensive. So……ooops, I guess?
Still, minting 888 billion coins was an attempt to get a little Chinese luck on my side. We shall see.
Second, as I had not saved up enough initial funds to match the number of coins minted, the initial price was just too low. (When you mint a new coin, you get to determine the initial price per token by matching the new token with a certain amount of a known, valuable token – like BNB.) As I didn’t really have a lot of BNB at first, the price per token was originally set at .000000001141 (pretty darn cheap). At time of writing, it is now .00000000574275 (an increase of over five times).
But, that is because of my BUYING my own token over the past month. You see, I made the mistake of not giving myself any tokens when I minted the whole lot. Apparently, most creators just “gift” themselves around 50% of the total supply, but I guess I’m just too “dumb and honest,” as my wife calls me. So, I had to buy my tokens, and for a while there, because they were so cheap, I briefly owned about 30% of the total supply.
However, if you look up the holders on BSCscan, you’ll see that 98.33% is held by Pancake Swap, not by me.
https://bscscan.com/token/0x8e334d075416020b30cb7af2ac9c454377c02c25#balances
That’s because I returned ALL of my tokens to Pancake Swap and paired them up with additional BNB that I added to the PPT Liquidity Pool. So, the PPT token is now 99% liquid (i.e. ALL the PPT tokens are paired against BNB to give them a real value, and facilitate easy buying/selling).
Liquidity is LOCKED for ONE YEAR
More importantly, as you can see, 99.97% of all PPT liquidity is LOCKED in a one-year contract with Mudra.
Mudra Lock Certificate
https://mudra.website/?certificate=yes&type=0&lp=0x3d7dfc4067dffe35dc3d5d30c7c8720a5445288a
99.97%
Liquidity Locked
Locked LP tokens: 3703445.9970
Total LP tokens: 3704527.0613
Unlock Schedule:
3703445.9970 (99.97%) tokens unlock in a year
What that means is simply this:
That while YOU can buy and sell PPT on Pancake Swap, I have ZERO access to the money you are putting in to buy this token until 1 May, 2024.
This is because I’ve been studying all about rug pulls, and I’ve learned that rug pulls are accomplished by people removing ALL the liquidity from a token once it has been sold and enough money has been accrued. By taking all the Liquidity Pool tokens I am holding and locking them up on a third-party website, even I will not be able to access them for the next 365 days. This makes people feel more comfortable about investing their money, as they know they can’t be rug pulled (at least, not for the next year). Once we reach the 365-day mark, we will need to see if we’ve gained enough funds or not, to move on to the next stage.
8 THE ROAD MAP - PART TWO
Having created the PPT token and having given it enough liquidity (and having locked up that liquidity for 365 days), the next step is advertising and selling it.
This is where we are at time of writing, and I’m still working out the details.
I’m hoping to do an IDO (Initial Dex Offering), where we advertise our token on various decentralized exchanges (Dex’s) simultaneously, but I’m still looking into it. To be honest, there seem to be a lot of "shady" companies out there who offer assistance with the IDO, but they all want to charge an arm and a leg for something that is actually pretty simple. I am still working on getting the token listed on any of the larger exchanges, as there is an application process which can take months.
So, for the moment, I am just going to keep working on creating all the social media pages for the coin, as that seems to be a big part of how coins are advertised and sold these days. I'm an absolute novice at social media, so it's going very slowly, but I will eventually have pages on ALL the major social media platforms.
Eventually all the pieces will be in place, and the token will be sold in ever increasing numbers, as its popularity soars (or so I hope). As the investors buy more and more of the tokens, the price will increase, and we will slowly accrue funds in the liquidity pools. As these are locked up until 1 May 2024, I will have to wait until then to access any of that money, but that is just fine.
In the meantime, I will be researching how to incorporate a company in the USA, and what the requirements are for bidding on the land leases offered by the Bureau of Land Management. I will also reach out to the other small oil companies, and eventually I will find someone willing to help/teach/mentor/partner with us and start the ball rolling on preparing for the next phase.
9 THE ROAD MAP - PART THREE
So, on 1 May 2024 the liquidity pool tokens that are currently locked up on the Mudra website will be unlocked. That means that we will be able to access any funds made from sales of PPT, but we are NOT going to use all of those funds immediately. As the total amount of funds will probably not be in the millions, we will need to keep advertising the token as we simultaneously move forward with what we can do at the moment.
If we will only have tens or hundreds of thousands to work with, we will do the following things:
1) Lock up 88% of the liquidity pool tokens back in Mudra for another 365 days.
2) Slowly cash out the other 12% (probably 1% a month), and place the funds in a publicly viewable bank account. That money will be used to fund a trip the USA to handle all the necessary details, like setting up the company, establishing a bank account in the USA, and any travel and lodging expenses associated with the trip. We will also use this trip to meet our future partners or mentors in the oil business, as we will need their help later.
By the end of 2024 we should be well on our way to having our own company in the USA, and if possible, we should begin to purchase oil exploration leases from the Bureau of Land Management. As these leases will be for ten years, we won't need to act on them immediately, but will need to wait until we have enough funds to pay for the rental of an exploratory oil rig and the wages for the crew to run it.
10 THE HOME STRETCH – where the company’s larger projects become a reality.
By 1 May 2025 we should have enough funds accumulated to actually start drilling operations. Once the liquidity pool tokens are released, we will have the ability to use those funds to sink our first wells and start pumping oil. We will need to hire professionals who know how to sell the oil and how we will need to transport it, as well as arrange for tanker trucks to move the oil to the reception point. All of this is going to cost a large amount, but we will hopefully begin to see a profit within a few months of our first successful oil rig coming on line.
After that, we will merely continue to run our company as another small oil company, pumping oil and selling it on the open market. Of the profits we make, 10% will be used to purchase PPT, 10% will be given to our employees as bonuses, and 10% will be donated to charities that are nominated by our employees. The other 70% of profits will be placed in the bank, as we accrue funds for the final phase of operations.
11 THE FINISH LINE – where we achieve most of our corporate goals, and have created a thriving, Ethical Oil Company for the betterment of the American people.
After (probably) several years of operation as a normal small oil company, we will finally have the funds necessary to buy or build our own refinery. We will take 50% of our oil and refine it into gasoline and diesel, and continue to sell the other 50%, as a cushion to support our future operations. Then we will buy and refurbish, or build entirely new, gas stations, where our much discounted gas and diesel will be sold. Once we have a few of our gas stations selling gasoline and diesel at a cheap price, our company will probably expand rapidly, as more and more of our gas stations come on line. Ultimately, we will take up a small portion of the US market, and be a multi-billion dollar company. But we will never charge more than 10% above cost, and America will be a better place for the average worker because of our company.
In the very long run (over the next 100 years or so), the Company will have slowly transitioned from oil production to other, cleaner forms of energy, and by the year 2100, we will probably be out of the oil business altogether. However, in whatever business we do operate, our commitment to never gouging the customer will remain the same. Certainly, other energy companies will be bigger and more profitable, but none will be more ethical.
Thank you for reading all this!
