Age of Oil P/E/S

Development of Texas transportation
and related industries

• Political

• Social

• Economic

Oil companies and
refineries developed
throughout Texas and
“boomtowns” grew
around successful wells

• Political

• Social

• Economic

Development of other industries:
• Source of electric power
• Plastic and rubber products
• Oil fueled machinery
• Demand for goods and services
to support oil

• Political

• Social

• Economic

Construction industry grew
because growing cities
required many new homes
to accommodate the
growing cities.

• Political

• Social

• Economic

Governmental regulation
on oil industry to prevent
pollution and harm to the
environment

• Political

• Social

• Economic

An 1899 Texas law had
attempted to set minimum
requirements for curbing
waste and pollution to try
to rein in the free-wheeling
industry

• Political

• Social

• Economic

Oil production tax began
in 1905 enriched the
state treasury

• Political

• Social

• Economic

Urbanization
The change in a country
or region when its
population migrates
rom rural to urban areas

• Political

• Social

• Economic

People move from the rural areas to
urban cities.
• Rural – sparsely settled area away
from the influence of large cities and
towns with mostly farmland and little
human population
• Urban – city or town ; densely
populated area with industrial sites,
public highways, transportation, etc

• Political

• Social

• Economic

When first discovered in Texas, the demand (or market) was low, so oil was not produced in large amounts (no profit). During the boom, so much oil was drilled that it drove the profit down (more produced than market demanded). As the demand (or market) for oil increased, production of oil became more profitable, so more was produced.

• Political

• Social

• Economic