As East Texas farmers struggled to survive the Great Depression, an oil discovery confirmed the existence of a massive oilfield. W.A. “Monty” Moncrief of Fort Worth completed the Lathrop No. 1 well, which produced 7,680 barrels of oil a day from 3,587 feet deep. Geologists at first thought a third oilfield had been found. (more…)
The U.S. Geological Survey predicted America’s oil supplies would run out in 20 years. It was not the first nor last false alarm. Warnings of shortages were made for most of the 20th century, according to A Case History of Oil-Shortage Scares, a 1950 report that documented six claims prior to that year alone. (more…)
Seeking to prove his cars were built better than most, Henry Ford set a world land speed record on a frozen Michigan lake. At the time, the Ford Motor Company was struggling to get financial backing for its first car, the Model T. The automotive pioneer drove his No. 999 Ford Arrow across Lake St. Clair, which separates Michigan and Canada, at a top speed of 91.37 mph. (more…)
The once-famous Pithole Creek
George Bissell and six investors incorporated the Pennsylvania Rock Oil Company of New York. Convinced by natural seeps that oil could be produced in northwestern Pennsylvania, Bissell formed this first U.S. petroleum exploration company “to raise, manufacture, procure, and sell Rock Oil” from Hibbard Farm in Venango County. (more…)
