Black Gold Texas History

Black Gold

The history of Texas is as long and diverse as the land is large. The flags of six different nations have flown over the land, with as many constitutions to govern the people. After almost ten years of independence Texas became the 28th state in the union when it was officially annexed on December 29, 1845. During this time the economy was centered on agriculture, with cotton and cattle being two of the largest products. The introduction of railroad transportation brought change; markets expanded with the access to faster, cheaper shipping, communities that were bypassed by the tracks died, and new towns were built alongside the rails. After the civil war the growing market for kerosene and other petroleum products spurred interest

The “Lucas Gusher,” named for the leading expert on salt dome formations, Anthony F. Lucas, erupted from the ground blowing oil over 100 feet in the air. The geyser flowed at a rate of approximately 100,000 barrels a day for nine days before it could be capped. This marked the beginning of the first oil boom in Texas and within months there were six more successful wells operating on Gladys City Company lands. Real estate prices around Spindletop soared and the population of Beaumont quickly grew from 10,000 to 50,000 as oilmen and speculators all tried for their piece of the fortune. In 1902 Spindletop reached peak production with 17,500,000 barrels of oil and more than 500 corporations were doing business in Beaumont. Unfortunately an overabundance of wells quickly drained the oilfield and by February 1904 production fell to 10,000 barrels a day. However, the success of Spindletop had already aided in the growth or formation of several major oil companies we know today and it encouraged further exploration along the Gulf Coast. From there, exploration spread across the state and by the end of the first half-century 80 percent of the counties in Texas were producing petroleum. With oil came urban growth, economic opportunities and jobs. This was the turning point that helped Texas to evolve from its predominantly agricultural roots into an industrial and managerial