Historical Context of Oil Discovery and Energy Price Trends
1 report, 1 independent
Updated Oct 11
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What happened
The early oil industry in Oil City, Pennsylvania, began when investors from Massachusetts funded Edwin Drake's well. These investors were looking for a replacement for whale oil, which was expensive and difficult to acquire.
From nzcity.co.nz
Why it matters
The search for alternatives to whale oil is presented alongside current energy issues, including high diesel prices in Pennsylvania and Iowa, and high unleaded gas prices in Alaska.
From nzcity.co.nz
Who's involved
- MassachusettsState from which investors originated to fund the initial oil venture
- Oil CityCity in Pennsylvania where the first oil deals were struck
- Linda LearHistorian who wrote widely about oil and energy issues
Keep exploring
The entities involved
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Oil City
city of Pennsylvania, United States
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Massachusetts
state of the United States of America