This Week in Petroleum History, January 19 – 25

January 19, 1922 – USGS predicts Oil Shortage, Again  –

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…)

This Week in Petroleum History, January 12 – 18

January 12, 1904 – Henry Ford sets Speed Record –

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…)

This Week in Petroleum History, January 5 – 11

January 7, 1864 – Oilfield Discovery at Pithole Creek –

The once-famous Pithole Creek oilfield discovered in Pennsylvania by a well drilled by the United States Petroleum Company — reportedly located by using a witch-hazel dowser. The discovery well, which initially produced 250 barrels of oil a day, made headlines and created the boomtown Pithole five years after the first U.S. oil well at nearby Titusville. (more…)

This Week in Petroleum History, December 29 – January 4

December 30, 1854 – First American Oil Company incorporates –

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…)

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