The Oil Industry
By: Taylor Starling
The OIl Industry Uprising
In the 1850s researchers found they could burn petroleum to produce heat and smoke free- light. Suddenly Oil became valuable. In the 1800s the oil Industry grew rapidly. As word of Edwin L. Drake spread, Investors & prospectors hurried to Pennsylvania. The oil boomed as prospectors struck oil in Ohio and west Virginia. John D. Rockefeller organized the standard oil company in Ohio and set out to dominate the oil industry. Rockefeller increased control of the oil industry in 1882 by forming a trust.
John D. Rockefeller
Made a fortune for oil. He created the "Monopoly" - almost total control by a single producer
Edwins L. Drake's Well
First Oil well in the U.S.A.
Standard oil was often stated as a monster with its arms reaching out to control government & suppliers
Edwin L. Drake
Drake thought that you can find petroleum by digging a well. Drake decided to put his Idea to the test, HE drilled a well in Titusville, Pennsylvania and struck oil. HIs Idea led to the creation of a multimillion-dollar Petroleum industry. Edwin L. Drake was the first person in U.S.A history to Drill and strike Oil.