More handpicked essays just for you.
Overview of oil & gas industry
An essay on the history of crude oil production
History past papers and answers oil industry
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Texas has prospered with many business such as through the cattle, cotton, and technology industry to keep the economy on top. One business in particular has set Texas economy a part from all the other businesses. The oil and gas industry has significantly changed Texas economy from the first discovery in the twentieth century until this exact moment.
Oil was first discovered in the mid-seventeenth century by Spanish explorers. July of 1543 Spanish explorer Luis de Moscoso saw oil floating on the water in the Galveston Bay (Olien 1). In the beginning there was no market or demand for oil until following the Civil War period, entrepreneurs begin digging wells. The first significant oil discovery in Texas was in 1894 in Navarro County near
…show more content…
During the first full year of taxation the comptroller of public accounts collected $101,403.25 on the basis of one percent of value of product (Mendoza, Omar, and Vera 5). After the first year the sum varied with the amount of production. In 2009 the oil and gas industry paid over $8.5 billion in Texas state and local taxes (Olien 1). The oil and gas industry creates jobs and generates too many other jobs, creating a “ripple effect”. According to one economic model, manufacturing at nearly 17 additional jobs created for one oil and gas job. The oil money funded highway expansion and the educational system. Politics during the 1900s in Texas was defined as Progressivism. In general the attitude towards businesses was laissez-faire (Mendoza, Omar, and Vera 5-6). There were very few …show more content…
Oil provided new fuel for transportation and manufacturing, even railroads were able to convert to oil. Oil helped manufacturing plants and farms move to a cheaper source of energy. Another significant factor of oil is that it helped encourage automobile production as well as roads. The production of the Interstate highway led to the movement of people and goods (Champagne, Harpham 13). Rapid industrialization of the Gulf Coast region sparked. By 1929 in Harris County, 27 percent of all manufacturing employees worked in refineries. By 1940 the capacity of the refineries had increased fourfold. The oil and gas industries carried a boom-and-bust mentality (Oliena 1). The economy flourish at times and failed other times, because the prices would rise and fall. When new oil was discovered in a particular place it brought about more people, overcrowding the schools and new housing. Yet a couple years later the town could experience a bust creating poverty and making the town a ghost town. The oil and gas industry transformed the government and its role with the economy. The Texas Railroad Commission was extended to regulate energy and to promote well-spacing rules. Higher education benefitted through the oil and gas industry ( Munch, Francis, and Rundell 604). In 1923 oil was discovered in the West Texas Permian Basin on university land. The Permanent University Fund was split up between the
When we see Texas, we remember today mainly for its BBQ, Football and Black Gold, Texas tea. However, there is much more than just the usual itineraries that we find in most other states as well. Molly Ivins in her essay “Is Texas America” categorically states that, “Here's the deal on Texas. It's big. So big there's about five distinct and different places here, separated from one another geologically, topographically, botanically, ethnically, culturally and climatically” (Ivins). This is a true belief from Molly Ivins of how huge Texas was and how the demographics changed in each geographical location in Texas. The population of Texas and the demographics are two essential factors that include many important parameters in deciding the history of any state. The presence of many ethnic groups further adds to the diversification of
...ve their advantage and disadvantage in regards their tax system; however, we can see that the state of Texas needs to find a better system to growth its tax revenue, they need to move to a progressive system, where there is a charge for income tax, but by putting a margin were only certain brackets pay the tax, and live exempt the people who makes $30,000.00 or less. This will improve the amount of income for the state, to help suicide certain causes, such as The Education system, Medicaid, and also help the Department of Transportation to pay old debts due to the construction and maintenance of new roads. This will help to stop the plan of considering bringing international companies to build new roads with the commitment of paying toll during the next fifty years, which is only going to benefit the private company, but not any changes in the revenue of the state.
Rockefeller was America’s first billionaire, and he was the true epitome of capitalism. Rockefeller was your typical rags-to-riches businessman, and at the turn of the twentieth century, while everyone else in the working class was earning ten dollars max every week, Rockefeller was earning millions. There has been much discussion as to whether Rockefeller’s success was due to being a “robber baron”, or as a “captain of industry”. By definition, a robber baron was an industrialist who exploited others in order to achieve personal wealth, however, Rockefeller’s effect on the economy and the lives of American citizens has been one of much impact, and deserves recognition. He introduced un-seen techniques that greatly modified the oil industry. During the mid-nineteenth century, there was a high demand for kerosene. In the refining process from transforming crude oil to kerosene, many wastes were produced. While others deemed the waste useless, Rockefeller turned it into income by selling them. He turned those wastes into objects that would be useful elsewhere, and in return, he amassed a large amount of wealth. He sold so much “waste” that railroad companies were desperate to be a part of his company. However, Rockefeller demanded rebates, or discounted rates, from the railroad companies, when they asked to be involved with his business. By doing so, Rockefeller was able to lower the price of oil to his customers, and pay low wages to his workers. Using these methods,
Fifth Edition Vol 2, New York: Longman, 1999. Hidey, Ralph W. and Muriel E. "History of Standard Oil Company (New Jersey), Vol. 1" Pioneering in Big Business" " Taking Sides Clashing Views on Controversial Issues in American History" eds.
In this paper I will highlight one of the governors of Texas. Dolph Briscoe was the governor of Texas from 1973 to 1979. Not only was he a governor, he was also one of the largest individual land owners in Texas history. This in a state known for huge ranches. His philanthropy has provided support to a wide range of educational, medical, scientific, and cultural institutions. In this paper I hope to provide a little insight in to how much this man has impacted the evolution of Texas.
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.
The people of Texas are diverse and carry their “big can-do attitudes and accents” (Pearson); making Texas a bigger than life state. The political culture of Texas is impacted by two different subgroups of individualistic and traditionalistic characteristics. The combination of traditionalism and individualism has had a huge impact on the state and Texas’ seven different constitutions. The shift in power between 1827 and 1876 has impacted the political diversity Texas has today. Looking at the specifics of these subcultures, the traditionalists believe government should benefit the wealthy and powerful, and that government services must be limited.
Growing up in McKinney, Texas, Lewis did many odd jobs before he was in the Texas National Guard. He was a bread truck driver for a bakery and worked on cars, to name a few . The life in Texas at the time of Lewis’ high school years was about economic expansion, with petroleum being the basic regional builder in the south west. Oil made the region’s economy different, where as it used to depend on agriculture and timber. But oil fueled the growing automobile industry, with every 4.3 Texans having a car by 1929. By 1930, Texas...
In the United States, for the last four decades, from Richard Nixon to Ronald Reagan through the two Bush Presidencies, the Republican Party won the White House by amassing large margins among white voters (Lizza.) The state of Texas has been reliably Republican since the 1970s and there are various elements to Texas political culture that can be narrowed down to three essential ideological trends: economic liberalism, or faith in the free market economy, social conservatism, or favoring traditional values and moralism, and populism, or promoting the rights and worthiness of ordinary people (Texas Political Culture.) As a result, the dominant political mood in Texas favors low taxes, minimal government services, and policies that are pro-business. This phenomenon is not static, however, since changing demographics in the state are causing changes in the profile of Texas in reference to electoral politics, among other major issues. This paper will explore different perspectives about the changing demographics of Texas, and where they might lead the state politically, and will present a variety of viewpoints regarding this complex subject.
Oil has always been a coveted natural resource. Oil was discovered in the United States in 1859; since it was a young industry, it was without any structure. That is where John Davison Rockefeller stepped in. John Rockefeller was at one point one of the richest men in the world, monopolizing the oil industry which played a major role in shaping the economy.
At the core of the boom that was the “roaring 20’s” was the automobile. The primary boom industry of the period, the automobile industry employed one of every 14 manufacturing workers and spawned a plethora of ancillary industries. Industries and companies needed to provide the materials of automobile production boomed in support of the industry. Steel, plastics, rubber and glass manufacturing ballooned to support the growth in automobile sales, which grew from 5 million in 1920 to 26 million in 1929. Oil exploration grew in response to the need for petroleum, not only for gasoline but for production of other products which had a petroleum basis. Construction of new roads, manufacturing plants, and homes were born of the markets created by the rise in availability of the automobile to the masses. And smaller but no less important ancillary businesses like gas stations, auto repair shops, upholstery shops, and even consumer stores, in more remote areas away from the major cities, were the direct result of the automobile industry and its far reaching impact and influence on the economy of the time. And the mobility that transportation would provide would spur other impacts and influences and continue to feed the boom that was the 19...
On January 10th 110 years ago, oil shot 150 feet into the sky at Spindletop Hill in Southeast Texas and the state was flung into the petroleum and industrial age. Before that, Texas was mostly an agrarian state that produced a small amount of oil but not en...
Much of what Texas is today is because of the people who settled her land. Crafts such as quilting and the Texas Star pattern, dance like the Cotton-Eyed Joe and even the way Texans still hunt today can be traced back to the Middle Ages.
American demand for petroleum began to grow in the beginning of the twentieth century. The national population was increasing at a rate of five million people per year, global fuel prices were consistent and low, and expansive suburbs were being developed to house the growing urban workforce. These trends greatly encouraged personal vehicle use, and the creation of President Eisenhower’s Interstate Highway System in 1956 enabled these cities and suburbs to be seamlessly connected. Before the highway’s creation, people were limited in how far they could travel, and more than seventy-five percent of the roads in America were in poor condition. Within the first year of the highway’s construction, however, American’s were buying an average of
East oil seeped through the ground and it was used in many ways. It was