Spindletop Oil Well

The oil boom began on January 10, 1901, when oil, known as black gold,
gushed from the oil well in Spindletop, Texas. This oil discovery was in the
Coastal Plains region of Texas. It produced close to 100,000 barrels a day, more
than any other well in America.

News of the oil discovery spread across America. Prospectors, (people looking
for oil) moved to Spindletop and it became a boomtown (a town that grows
very fast because it becomes wealthy very fast). New refineries (factories that
make oil pure by removing other minerals), businesses, neighborhoods, and
schools were built during the boom cycle (lots of oil is being produced and
making people/companies wealthy)

In 1901, the Spindletop oil well produced 3.5 million barrels of oil; in 1902, it
produced 17.4 million barrels of oil. The price of oil went down because so much
oil was being produced.

How did the Spindletop Oil Well impact America?

Before Spindletop, cars were expensive and only the

wealthy could buy them. The low price of oil meant
more Americans could purchase cars and afford to
put gasoline in them. Not only were cars cheaper, but
goods that people used daily such as: tires, nail polish,
paint, eyeglasses, and toothpaste, were cheaper!

More jobs were created across Texas and the rest of

A diagram showing products made from oil.
companies still hire lots of people
America. Companies, like Exxon and today.
Texaco, were formed. These

Spindletop’s Legacy in Texas

The oil boom at Spindletop busted in 1936 but its significance

(importance) is still felt today. More oil was discovered in Texas
because billions of dollars was spent looking for more. More than
500 companies were formed and thousands of jobs created. The
Spindletop oil well discovery helped expand the Texas economy
and it is still going strong today.