Oil was discovered in Ancient Greece and first began being drilled for in 1901. The significance of spindle top is that oil has been a major influence on development in all regions of Texas. The importance of oil to Texas is that Houston and Midland are home to countless oil companies. Corpus Christi, Beaumont, Port Arthur, and Baytown boast major oil refineries. Even the University of Texas at Austin had an operating oil well on its land for years. The discovery of oil affects the economy as it made the state more rich and more people wanted to live there. So much oil was pumped there that it flooded the market. Meanwhile, Texas and the nation had fallen into the Great Depression—a time of low economic activity and high unemployment. As a result, the bottom fell out of oil prices. Oil is even a source of electric power. Many of the plastic and rubber products in your home and classroom are made from oil-based chemicals. Sometimes when we use things today, most people don't notice that they are oil based or work using oil. Some things that are used everyday are oil based or work by using oil, like gas, electricity, synthetic rubber, synthetic fabrics, asphalt, cleaning products, plastics, ball point pens, some stoves, and paint. There are also some things that are oil based that we use everyday but might not know that they are oil based, like make-up, medicines, and food. There is a lot of oil around us: you might know it's there, you might not. However, because of this paper you might now have an idea of how much oil is around us. Oil is important but can be dangerous at times. Oil is what makes this world the way it is today. Oil can be good or bad, but we can never go with out it.