Texas Oil Project

By: Femi Sakiri, Micheal Scott, Greg

3 economic/ social effects In the world.

Economic: 75,000 barrels of oil per day. A approximate 17.5 million barrels in 2002. A effect cause the oil was selling for .03 cents while a cup of water cost .05 cents

Social: The population in Spindle Top started to increase when the oil boom. The population was 115, in 4 years after oil was discovered in 1920 it increased to 800.

This was because oil was in high demand and was cheap.

Economic: Texas was the leading industry for US in 22% of the oil came from Texas. The oil industry provided 1.8 million jobs for people. This was economic because it provided many jobs for people in Texas which was the leading industry.

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over view of history of spindltop

on January 10,1901,an enormous geyser of oil exploded from a drilling Spindle top. Texas reaching more than 150 feet and producing close to 100,000 barrels of oil a day. the geyser was more powerful than any seen in the world,tens of thousands of people came to the Spindle top oil field after the strike a booming oil industry soon grew around the Spindle top and many of the oil company's in America including gulf oil, Texo, and Exyon and its first year spindle top produced more than 3.5 million barrels.

Modern Day Oil Indusrty

The oil industry is responsible for 1.8 million jobs in Texas, and as of 2008 it brought 9.9 billion dollars in taxes in money. In 2010 a fail blowout prevented on BP deep water rig in the gulf of mexico. An average of just over 64 dollars per barrel in 2015 and 2016
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