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The oil industry struggled to control the effects of several tremendous strikes during the decade. In 1930 wildcatters struck oil in east Texas, opening a reservoir that proved to be 140,000 acres large — the largest strike in the United States at that time. In 1932 wildcatter Robert Samuel Kerr struck oil within the Oklahoma City city limits; his find would eventually earn over $2 million. On 31 May 1932 Standard Oil of California struck oil in Bahrain; by 1936 production equaled 20,000 barrels per day. In 1938 an equally important reservoir was struck in Kuwait and Saudi Arabia. In 1935 Shell Oil hit oil in Kern County, California; the introduction of a new process for cracking oil into gasoline that same year promised to bring this oil to market cheaply.
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This section contains 126 words (approx. 1 page at 300 words per page) |
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