Oil And Gas Essay

1260 Words 6 Pages
Modern societies throughout the world are dependent on oil and gas. Without these two resources America would have never experienced the Gilded Age that made America the industrial powerhouse that it is today. Not only do these resources supply us with transportation and countless other material items but because of how large the industry is it accounts for tens of thousands of jobs within the three sectors of the industry. Every year oil and gas are becoming rapidly more important.

The phenomenon of oil and gas is not new, they have played roles in history since early civilization. several ancient cultures used oil as a sealant to bind materials like the Sumerians and the Mesopotamians who used bitumen to seal boats and make roads. Oil was
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In the early eighteen hundreds merchants used an area called Oil Creek to capture oil in blankets on the surface of the water. The first American oil company, The Pennsylvania Rock Oil Company, was created after the invention of the kerosene lamp in the eighteen fifties. John D. ROckefeller recognized the potential for growth within the oil industry and became a leading figure in the oil industry after his creation of The United State’s first major oil company, The Standard Oil Company. Edward L. Doheny located Los Angeles’s first well in 1892 and oil companies quickly began to establish in the area. WIthin a few years the Standard Oil Trust was created allowing The Standard Oil company to monopolize the industry by consolidating the smaller companies. In 1901 a strike on the Spindletop mound with the greatest gusher ever seen in American history led to the end of monopolies within the oil industry.After the discovery of the Spindletop Geyser in 1901 oil companies began to appear rapidly and within one year over one thousand oil companies had been chartered. STandard OIl still continue to grow but in nineteen eleven the Supreme Court ruled that the company had operated to restrain trade and the trust was dissolved into thirty four companies. Increasing sales of gasoline for the newly invented automobiles and airplanes and America’s involvement in wars like World War I and World War II assured that oil continued to be an important

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