1. Powerpoint Templates Page 1 Powerpoint Templates Oil in Oklahoma

2. Powerpoint Templates Page 2 Natural Resources: Original discoveries that shaped Oklahoma and economy: Coal, zinc, lead, gypsum, salt Petroleum: Indians used for medicine White settlers used for lamps and wagon wheel lubricant Before statehood: Wildcatters drilling ‘gambling’ in 1880’s

3. Powerpoint Templates Page 3 First commercial well: On April 15, 1897, spectators watched a go- devil (torpedo) down the shaft of an oil drill site (1,320 feet down) to set off a nitroglycerin charge. The discovery can be see to the right. The well was named for William Johnstone's daughter.

4. Powerpoint Templates Page 4 Effects of discovery: Increase population - Bartlesville 200-400 in ten years Economy – Investors, laborers, owners War efforts – Healdton field (pg 356)– ½ oil used by Allies in WWI Tulsa – “Oil Capitol of the World” “old oil money” (mansion type homes around Lewis, Utica, Peoria, Cincinnati and 18 th, 21 st )

5. Powerpoint Templates Page 5 Boom and Bust Cycle: Boom: up turn Bust: recession Not really classified before the Great Depression, but the oil industry has had similar turns Boom – in discovery and Tulsa establishment Bust - in the mid 80’s Boom – 90’s economy doing better Bust – now – War in Iraq