Texas Oil Research
By: Lily Phillips
Anthony Lucas, a salt-mining engineer, leased land in Spindletop after seeing Higgins's ad and being convinced of the Texan's theory of oil in Spindletop. Lucas began drilling in Spindletop with lightweight equipment that collapsed several hundred feet down. After the collapse of his equipment he contacted Pennsylvania businessmen who developed the oil field in Corsicana. With heavier equipment Lucas began drilling once again in October 1900. January 10, 1901 Anthony Lucas hit the largest oil reserve the world had ever seen.
Texas also experiences oil discoveries in Nachoches County in 1860 and Corsicana in 1894.
Products made from petroleum: Bandages, plastic bottles, detergent, pen ink, compact discs(cds),camera film, vitamins, synthetic rugs, plant fertilizer, sneakers.
Weird things for petroleum to be in: Nail polish, lipstick, hair dye
During the oil boom in Texas the growing number of wells resulted in over-drilling. 17,500,000 barrels of oil were produced in 1902 then 47,900 barrels per day the wells began to slow by 1904 only 10,000 barrels pre day were produced, Businesses that moved to serve oil workers began to close as owners moved away.
The oil boom meant donations and great support to Texas public education. The University of Texas and Texas A&M University have received millions of dollars in oil profits through the state's permanent university fund.
The effects of the Texas oil boom today is that oil prices are plunging and oil is cheap and if this goes on for to long then the Texas oil business could end in a bust.