Written Assignment 3

Written Assignment 3 - The location of Spindletop was...

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Amy Rice 1/29/08 Read Black Gold: The Oil Frontier and answer the following. 1. Who financed Spindletop? Andrew Mellon financed Spindletop ($300,000). 2. Before Spindletop the most successful oil well produced how many barrels per day? Before Spindletop, the best oil well produced 50 barrels per day, at the most. 3. Why was the discovery of oil at Spindletop so important? The oil discovery was important because it made oil more affordable and cost-effective. It also made oil much more widely available because so many more barrels were being produced per day. 4. Why was Spindletop’s location so important?
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Unformatted text preview: The location of Spindletop was important because it was close to major oil refineries. The oil didn’t have to be shipped too terribly far to be refined; this made the production of it less expensive as well. 5. How did Spindletop break Rockefeller’s monopoly on oil production? What new companies came from it? Before Spindletop, John Rockefeller owned all of the places that produced oil. He didn’t, however, own Spindletop, which quickly became the most successful oil well around. The oil companies Texaco, Mobil, and Gulf Oil Company all sprang up from Spindletop....
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This document was uploaded on 03/03/2010.

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