The Effects of Discovering Oil in Texas Essay

The Effects of Discovering Oil in Texas Essay

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On January 10th 1901 the discovery of oil at Spindletop would lead to the greatest economy boom the world has ever encountered. The amount of oil that would be discovered across Texas would be more than enough to power America through the next several decades. The effects of having oil would completely change Texas culture, lifestyle, and business tremendously. In the book of Oil In Texas, will prove that America would change completely from agriculture nation to an industrial nation after the discovery of oil in Texas.
At the turn of the century there was a new law named “Capture” therefore; whoever produced the oil owned the oil. If you did not produce the oil then somebody else would be willing to produce the oil. The consequences if the production of the well ran dried out weight the reward. “Oilmen were not the only ones who knew that production was often short-lived; bankers quickly learned that no prudent lenders extended a loan on the basis of oil production. “ It was a reality that oil production started of strong and quickly dropped off within a matter of a couple months. The risk was not worth the reward for either party which is the bakers or the oilmen. The ferocious cycles from boom to bust, from having more than enough oil to not enough would swing the price for oil up and down like a roll coaster. When a new oil field came in, the local markets hand more than enough oil, pushing the prices lower, making oil more affordable. However, whenever the oil production dropped it would send the prices sky rocketing making it unprofitable to stay in business. Pattillo Higgins would be willing to take on this challenge head on of producing oil. [Who is Higgins, Ernest? By giving at least a short introduction the readers w...

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...n East Texas and would go all the way to Pennsylvania. East Texas with its huge oil industry was able to but oil through the Big Inch and give our troops the edge they needed. The determination and patriotism of the Texans was the reason for the accomplishment right within full calendar years. Without the energy source that was provided from East Texas to power our industrial war machine. Then America would have failed.
Conclusion: One of the greatest economic booms in history had an everlasting ripple effect on culture, businesses, and lifestyle in Texas. The discovery of oil in Texas allowed America to take leap forward into a leading nation. Texas oil gave America a fighting edge to win the war, gave Americans advantage to travel faster and quicker. Texas oil helped America go from agriculture nation into the top industrial nation much quicker than anticipated.

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