During the 1920’s, as cars became more widespread, society became evermore dependent on the properties of oil. Gas, a by-product of oil, was in high demand, but the supply was quickly being depleted. As once prosperous wells were reaching their limits, panic ensued upon the public Oil in America was becoming scarce and the search for outside sources was on. In the third installment of the Prize titled “Black Giant”, we follow America in its search for foreign oil.
In the first two decades of the 20th century, America contained three-fourths of the worlds cars. Aiding to that statistics is the fact that the U.S. was also home to Henry Ford, creator of the Ford Motor company. Ford was a smart man and through specialization, the latest machinery, and the assembly line, he cut the cost to produce a car. This not only increased his profits, but it also made the vehicle more affordable to the everyday citizen. The car was an epic creation, yet, its dependence on a depleting resource made it, and those who depended upon it services, vulnerable. Facing the prospect of an oil shortage, the Federal government stepped in.
To address the shortage, Secretary of Commerce, Herbert Hoover, called a meeting which encompassed major figures of the petroleum industry. Among these leaders, was a man by the name of Walter Teagle. Teagle grew up in Ohio’s Euclid Avenue. He was the son of an oil man and his grandfather on his mother’s side was one of John D. Rockefeller’s original
When oil was first discovered it was “Discovered of the spindle top oilfield near Beaumont in January 10, 1901 marked the opening of the prosperous phase of the business in Texas.” But not long after discovering in Texas it would soon be discovered in Oklahoma in 1905. Shortly after 1910 more oil was being founded and more was coming out of Texas. By the end of the Progressive Era in 1920’s “Texas was producing 85,000,000 barrels per year with even more dramatic increase
What would America be today if Henry Ford’s impact in history would have never occurred? Could the wealthy be the only citizens who could own a car? Could it be possible that the assembly line would have never been perfected? Thankfully, we don’t have to live in a world where all these possibilities are unknown. During the 20th century being able to travel from one place to another in their own car was rather strenuous to most Americans. Although the automobile did exist, it was extremely expensive and only the wealthy were able to afford it. Without Henry Ford’s impact on American history, this scenario would have never changed, only the wealthy would be driving in their own automobile today. America would not be what it is today if it weren’t for Ford. Henry Ford made an extremely impact in America through his Model T, which made automobiles more accessible for the majority of Americans, and perfecting the assembly line, which would increase mass production.
Imagine how life would be if our society did not have cars. Today, our society is dependent on cars for our daily routines. From transporting our food, clothes, and technology to just going to the store across the street, cars are a very important part of our society. In the 19th century, only the wealthy and upper middle class had access to automobiles, and they only used cars for fancy transportation and to show off their money. This was due to the extreme prices of cars in the 19th century. With these high prices not many people could afford them, especially not the working class. Henry Ford revolutionized the automotive industry in the
Oil has often been referred to as any economy’s lifeblood. Although this is an overemphasis, oil has been the key, nonhuman resource of the economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic importance of this product.
Senator Everett Dirksen once noted “The oilcan is mightier than the sword”. In today’s world, it is easy to see why oil can be considered the most important resource to hold. Without oil, many of the common day occurrences we take for granted would be impossible. Oil is used for almost everything; from the fuel used to drive our vehicles, to the plastics used in every facet of life, and providing the heat needed to live through the winter. In fact, the United States depends so much on oil that as a nation it uses over 20 million barrels a day. Importing oil increases the total costs because of the need to transport it from around the world. It is estimated
Henry Ford once said, “If everything is moving forward together then success takes care of itself”. Society has been revising how we live for centuries and still continues to do so. Naturally, we look for ways to improve humanity and make the world a better place to live. One critical contributor to the success of society in the 1920s was Henry Ford. Henry Ford’s ingenuity gave birth to something that would revolutionize society for years to come. This was the beginning of a new era. Henry Ford’s automobiles revolutionized civilization in many aspects. Innovations in technology and how it’s made impacted people’s lives in the 1920s and modern-day life.
In the beginning of the 20th century Texas discovered a major economic game changer. In January of 1901 in Spindletop, Texas oil was discovered in the form of a 100-foot geyser. Little did Texans know that their lives and economic situation would be changed forever. Right after the discovery most of the early profits made from oil went to easterners. When the 1920’s came around oil became a major economic engine. Causing major social changes in job opportunities, education, marriage, and sports.
It begins with the author talking about the first appearance of Henry Ford’s greatness showing how the car industry can be so beneficial and the future for further development in technology. Then, the author talks about the turning point to Henry Ford’s sudden collapse of sells, when the Great Depression started he still wanted to create car products. So, he created a deal with other civilians as “ they were willing to give their labor in exchange for those products’. But no one would accepted his offer,” as it was too troubling for people at that struggle in life. (Curtis)
America is the greatest nation on earth, and many people want America to continue to prosper. The only way for America to continue to be the most powerful nation on earth is through the automobile. The automobile has for a century been a symbol of America’s greatness and dominance, and as the essay “Americas Key to Freedom” reports that it has had a key role in maintaining America’s economy.1
The “U.S. became the world’s top producer of petroleum and natural gas” in 2013 (Energy Infrastructure). “Capital spending in the infrastructure that moves and transforms oil and gas into everyday products … has increased by 60 percent between 2010 and 2013” (Energy Infrastructure). The rise to become the top producer has led to the decrease in “U.S. oil import dependence” and the “rise of U.S. product exports” (U.S. Oil Import Dependence). The increased exportation of oil and gas by the U.S. has allowed both of these products to become large moneymakers for the United States. Although we will probably never “completely eliminate our need” for oil, we can reduce our petroleum consumption and the damage we inflict on the environment (Reduce Oil Dependence Costs). By decreasing the “dependence on oil” in new vehicles, there has been a
During the 19th century there was a rapid growth in industrialization and change in America. “The iron and steel industry spawned new construction materials, the railroads connected the country and the discovery of oil provided a new source of fuel” (John D. Rockefeller, 2015). The discovery of an oil geyser in Spindletop was a paramount cause for the rapid growth of the oil industry. Within a year, oil became the primary fuel in America and became an integral part of the economy. “This state of things is made possible, and is obtaining, solely by and under the power and use of machinery; first in the hands of individual capitalists; then in the hands of companies; and, lastly, by corporations” (Moody, 1883). Industry leader John Rockefeller, was able to build an empire during this period of time and established his company the Standard Oil
America must wean itself off of dependence on foreign oil, and one valid solution to this problem is offshore oil drilling and production. America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. About 25% of oil produced in the U.S. comes from offshore rigs. Most of the U.S. coastline has been off limits for oil drilling since the early 1980s. Due to environmental concerns after an oil spill off the coast of California in 1969, an offshore drilling moratorium was imposed. Since then, the U.S. has amplified its energy consumption to where it uses nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil. That has made the U.S. heavily reliant on imported
The Importance of Oil in U.S. Foreign Policy During the oil and energy crisis of the mid-1970s Americans became painfully aware of the consequences of the United States dependence on foreign sources of oil. Unfortunately, research and exploration for alternative sources of oil in North America has not been pursued vigorously enough to cease such foreign dependence. As a result, in the mid-1990s Americans find themselves in the same precarious position as they were during the 1970s. The Persian-Gulf War in 1991 was all the proof needed to convince the United States of how strongly oil still influences our foreign policy and international relations in general. Oil and U.S. Foreign Policy: Historical Issues The United
Like in many wars in history, “money,” “power,” and “oil” were the primary resources for combat and defense. However, out of the three, oil was the most important resource, causing many to seek its presence. Oil was not only for getting the engine started but also for getting the war done thoroughly and keeping the economy running. During World War II, oil became even more of a necessity putting countries at war. However, most importantly, oil became the decisive factor that determined the unfortunate and successful results of desperate, oil-seeking countries.
In the “The Prize: The Epic Quest for Oil, Money, And Power,” Yergin undertakes the reader upon a thorough and enjoyable journey through oil history, from the first 1859 well drilling by Colonel Edwin in Pennsylvania during up to the invasion of Kuwait by Saddam Hussein in a wrathful grab for oil and wealth in 1990 August. Yergin explores the role of oil in warfare, depicts the ever-changing organization of the oil sector, and examines the prominent, as well as often flamboyant petroleum players. The book is a well-researched and well-written, and supplement to a history branch, which until very lately, had been regrettably neglected—history of business.