The Prize: The Epic Quest for Oil, Money, and Power

What occurred in the oil industry after WWI in the United States? What was the Mineral Leasing Act of 1920?

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Asked by Cat on 26 Mar 01:55

Last updated by Cat on 26 Mar 02:17

1 Answers

Answered by Cat on 26 Mar 02:17

Consumption grew by 90 percent in the United States during the war years. Oil sources wouldn't last forever and Rocky Mountain shale oil was not economical yet. The Mineral Leasing Act of 1920 said that foreign interests could not drill on US owned land if their country denied this right to American citizens.