2. OIL

6. Kerosene was cheaper than whale oil

7. Titusville, Pennsylvania 1859 2. Edwin Drake

8. 3. The first deliberate oil strike in Texas was at Oil Springs, near Nacogdoches, in ______. Lyne Barret 1866

9. Corsicana 4. Corsicana, TX First major oil strike in Texas; 1894

10. 80 miles east of Houston 5. Near Beaumont, TX1901 Beginning of the TEXAS OIL BOOM!

11. 6. At Spindletop, Patillo Higgins believed oil would be found under a salt dome at _______________. He made 3 unsuccessful attempts. Spindletop Hill

12. 7. He called for a drilling engineer. _____________, an expert in salt domes, agreed that oil was probably beneath the Spindletop dome. Anthony Lucas

13. Jan 10, 1901 oil was discovered at Spindletop

14. It could be seen for more than 10 miles away

15. Guess how many barrels it produced daily over the first 9 days … 800,000 barrels a day. How many the first 9 days?

16. How Big is a Barrel?

17. Beginning of the TEXAS OIL BOOM!

18. > 17 million barrels of oil Oil Production Peaked

19. 9. Led a boom in TX economy

20. jobs 10. Created many jobs

22. 11. If supply (a large amount of oil) is greater than the demand (what is wanted), the price goes… 12. Now it produces only 10,000 barrels a day. Too much drilling at Spindletop drained its oil reserves.

23. Oil prices dropped to… $.03 barrel

24. 13. Most new companies went out of business A few survived & grew into major businesses Became …

25. A few survived & grew into major businesses J M Guffey Petroleum Co. Became…

26. A few survived & grew into major businesses

27. Made one of the biggest oil discoveries in TX 1930 14.

28. “Father” of the East TX Oilfield East Texas- Henderson, Kilgore, Longview, Gladewater

29. Founded the Standard Oil Company in 1870. Became world's richest man & first American billionaire. Often regarded as the richest person in history. 15.

30. The most powerful, most admired family in America -- and the most hated.

32. Mothers would warn their children, "Rockefeller will get you if you don't mind."

34. Designed a rock bit to cut through hard rock 10X faster 16.

35. oil natural gas 17. Products derived from oil & natural gas plastic, synthetic fiber, and rubber products PETROCHEMICAL INDUSTRY (the main industry in TX)

36. The __________________________ required gasoline, an oil by-product Internal Combustion Engine 18

37. Officials passed ___________ to control parts of the oil industry Abandoned wells Oil pollution in water __________________set standards to prevent over-drilling Taxed oil production restrictions TX. RR Commission 19 19. 20.

38. Created new jobs Provided more tax revenue for state gov. & _________ Increased funding for the _________________________ to help TX universities Permanent University Fund education 21. 22.

39. Many of the wealthy gave _______ to fund the arts & institutions Philanthropy- _____________________________ Universities, schools, hospitals, social institutions The Arts the giving of money or gifts money 23. 24.

40. $ 77.62 barrel (in 1/2010) How much is a barrel of oil today?

45. Barrett drills @ Nacogdoches Discover oil @ Corsicana Lucas drills @ Spindletop Oil @ Sour Lake > 195,000 cars in TX > 144 million barrels of oil from TX oil fields

47. Assignment Pg. 490 Identifying People & IdeasIdentifying People & Ideas Choose 4 of the people/terms to write a historically accurate sentence & picture.Choose 4 of the people/terms to write a historically accurate sentence & picture.