It’s believed that the oil industry in America started in August of 1859 thanks to commercial well drilling in Pennsylvania. That commercial oil breakthrough eternally changed America’s culture, economy, and standard of living.
As oilfield findings increased, more states became known as producing states. Problems, in the beginning, included a demand for an infrastructure that could store, produce, and transport natural gas and oil. The rush for “black gold” generated national and state economic problems including:
- Wasteful over-production
- Unexpected drop in oil prices
- Problematic stock promotions
- Numerous boom-and-bust cycles
The industry encountered huge challenges just as the improved science of petroleum geology started finding mid-continent oilfields. Next, Thomas Edison invented the first standard incandescent light in 1879, eliminating the need for kerosene, the oil industry’s main product.
First American Oil Well
American oil history started in a woodland valley in northwestern Pennsylvania. Today’s petroleum production industry began on August 27, 1859, when a well specifically drilled for oil finds it.
Spindletop Starts the Petroleum Industry
In 1901, the Spindletop oilfield debuted in Texas. It would produce more oil in one day than the rest of the world’s oil fields combined. In 1892, Gladys City Oil, Gas & Manufacturing Company was founded by “The Prophet of Spindletop,” geologist Patillo Higgins.
The First Oil Company
The first oil company was the Pennsylvania Rock Oil Company which was founded to use oil found floating in the water in Titusville, Pennsylvania, the site of the first successful oil well.
Edwin Drake is usually linked with discovering oil. However, it was his connection with the Pennsylvania Rock Oil Company that sent him to the region to study and develop the chance for oil in the area.
The triumph of Edwin Drake’s oil well drilling operations in Titusville would draw attention. In less than 10 years, John D. Rockefeller and the Standard Oil Company would come on the scene and rule the oil industry everywhere.
The History of Oil: Summary
Technological discoveries in unconventional gas and oil production in the last 20 years have changed America’s energy situation. Additionally, these developments have created many new opportunities around the globe. These huge innovations are apparent in hydraulic fracturing, horizontal drilling, and subsea engineering.
With the technological developments of the 20th century, oil became the ideal energy source. The key reasons for the transformation were the automobile and the electric light bulb. Automobile ownership and the need for electricity increased exponentially and so did the oil demand.
At Diamond T Services, we’re grateful for the discovery of oil and all the developments in the oil and gas industry. Without it, we wouldn’t be the best business to contact for oilfield equipment rentals in Denver. Whether you need solids control rentals or want storage solutions, we ensure you get the right equipment to complete your task and a support team on hand to assist with any issues. Explore our options and give us a call.