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.
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.
Three hours later Santa Anna arrived with his 650 men. The Texas government had escaped, but Santa Anna was confident of victory; he had reinforcements coming the next day and he knew that the Texas government's connection with the Texas army had been severed. If Santa Anna won that day the war would be over. Santa Anna gave the order to pitch camp. He chose the land between Peggy Lake and the river, the only solid ground available to him. On his right was a thick forest and behind him was a dense marsh(Hoyt 150).
...nd eventually morph it into what it has become modernly. The industry is transformed over time into a cut-throat game of international relations. The United States specifically becomes overwhelmed with the amount of public relations that are involved. In many cases, the country has much more pull in the affairs than that of the United States’ interests. As a result, President Eisenhower imposes mandatory quotas which protect domestic oil and stabilize the price of U.S. oil.
middle of paper ... ... The victory at San Jacinto is still today one of the most well orchestrated attacks ever. Thus, because of the bravery of the Texans and their leaders, the Texas Revolution, even though not immediately, was a great success and allowed the Texans to pursue that great American dream of Life, Liberty, and Freedom. Works Cited 1.
The expansion of agriculture and railroads helped form Texas’s present economy. The invention of the steam engine not only allowed people to move across the country in 7 days, instead of 6 months, but it also allowed crops and livestock to be carried to markets and places where they would be sold anywhere in the country. They could be moved to another farm in Texas as well. Since it’s such a large state, railroads were a necessity for travel, and general transportation. The railroad-building boom lasted 40 years. The production of cotton in Texas introduced some of the first slave-based cotton farms, and was the dominant crop for a very long time. After this event, Texas’s economy was forever changed.
So the battle at the Alamo should have never taken place. There were only two outlying posts that guarded Texas from an attack from the south or from Mexico. The two forts that blocked these approaches into Texas: Presidio La Bahía at Goliad and the Alamo at San Antonio. Each installations function was to alert the Texas settlements of an enemy advance. Letters of warning were sent out, but there was no help was in sight.
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...
The “Lucas Gusher,” named for the leading expert on salt dome formations, Anthony F. Lucas, erupted from the ground blowing oil over 100 feet in the air. The geyser flowed at a rate of approximately 100,000 barrels a day for nine days before it could be capped. This marked the beginning of the first oil boom in Texas and within months there were six more successful wells operating on Gladys City Company lands. Real estate prices around Spindletop soared and the population of Beaumont quickly grew from 10,000 to 50,000 as oilmen and speculators all tried for their piece of the fortune. In 1902 Spindletop reached peak production with 17,500,000 barrels of oil and more than 500 corporations were doing business in Beaumont. Unfortunately an overabundance of wells quickly drained the oilfield and by February 1904 production fell to 10,000 barrels a day. However, the success of Spindletop had already aided in the growth or formation of several major oil companies we know today and it encouraged further exploration along the Gulf Coast. From there, exploration spread across the state and by the end of the first half-century 80 percent of the counties in Texas were producing petroleum. With oil came urban growth, economic opportunities and jobs. This was the turning point that helped Texas to evolve from its predominantly agricultural roots into an industrial and managerial
The Texas Revolution is one of the biggest events that contributed to the founding of this country. Texas’s fight for independence from the Mexican government was very beneficial to the young and growing United States. The effects of this war play a crucial role in how this country came to be
In the year 1858 not many choices for higher education or college were available. For texans, there was no option that was in their own state. Due to this, the Texas legislature set aside land grants for Texas’s first university. Once the university had opened people were starting to wonder about the possibilities of oil within their campus. This led to the first major oil discovery in the West Texas Permian Basin. Once the oil money began to flow in it triggered a massive amount of construction to begin in this area. Although this boom didn’t last very long, by 2008 the university had made $4.4 billion dollars due to oil and gas. For this exact reason is why I believe that Document A deserves the most airtime
Numerous families living in small town America lost their income because of Standard Oil and forced hardship upon many. The legacy of John D. Rockefeller shall always live on as he has permanently shaped how this country looks. He has funded huge advancements in the fields of education and medicine along with starting the events to end lassiez-faire economics. The petroleum industry changed greatly during his career thanks to his research and completely new business methods were thought up of by him, some still in practice today.
In Oil, Sinclair dramatizes the Oil boom years through perspective of Bunny Ross the son of a rich oil entrepreneur. Bunny’s idolizes his father J. Arnold Ross early in the novel, with his rags to riches story going from being a former mule driver who got lucky and made fortune in California oil. Dad wants to his son to become well educated on the oil business, which gives insight to readers about oil drilling in the
" Oil is the life blood of our modern industrial society. It fuels the machines and lubricates the wheels of the world’s production. But when that vital resource is out of control, it can destroy marine life and devastate the environment and economy of an entire region…. The plain facts are that the technology of oil-- its extraction, its transport, its refinery and use-- has outpaced laws to control that technology and prevent oil from polluting the environment…" (Max, 1969). Oil in its many forms has become one of the necessities of modern industrial life. Under control, and serving its intended purpose, oil is efficient, versatile, and productive. On the other hand, when oil becomes out of control, it can be one of the most devastating substances in the environment. When spilled in water, it spreads for miles around leaving a black memory behind (Stanley, 1969).
finding new ways to drill for oil and also refine it more efficiently to ensure that