DISCOVERY OF OIL PROJECT
By: Caden Hardy
These are oil derricks. They were used to pump oil out from underneath the ground. The first place where we found oil in Texas was in Texas at Spindletop. Anthony Lucas bought the land of Spindletop. Lucas drilled to a depth of 575 feet, at which point his lightweight equipment collapsed. He received heavier equipment from business people in Pennsylvania. On January 10, 1901, Lucas hit the largest oil reserve the world has ever seen.
Other Oil Discoveries.
In 1859, Pennsylvania was the first state to produce oil. Burkburnett, Petrolia, Wichita Falls, and other Waggoner Ranch. Oil was mainly found in the Permian Basin in Texas. You can find oil reservoirs in Texas, Louisiana, Pennsylvania, and Sothern California.
A barrel of oil in 1993 varied from $0.75 - $0.10 - $0.75. By 1938 a barrel of oil cost $1.10. In 1919, tax revenue from oil production was $1 million and in 1929 it reached $6 million.
Houston Hugh Roy Colleen donated more than $11 million of his fortune to universities. Many Universities owe their existence to individuals and intuitions related to the oil industry. UT (University of Texas) and TAMU (Texas A&M University) has received millions of dollars in oil profits through the states Permanent University Fund.
We have a richer economy due to the sell of oil. There were and still are lots of job opportunities due to the first oil boom in Texas. There is better transportation due to the oil discovery because the oil was used for petroleum and tires and those are parts we need for our transportation. The oil discovery has made an increase on our population because people all over were interested in Texas' oil discovery. Oil also brought new ways of education for giving us schools.
Products of Petroliums
(Plus the gross stuff)
I use: Gross:
Ink Gasoline Vaseline
Vaseline Fuel Paper Cups
Tires Lip Balm Lip Balm
Paper Cups Candles