TX History Ch 23.3

2,823 views
2,826 views

Published on

Published in: Business, Career
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
2,823
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
76
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

TX History Ch 23.3

  1. 1. Chapter 23: The Oil Boom Section 3: Effects of the Oil Boom
  2. 2. Boomtowns <ul><li>Oil drew thousands of people to oil fields and nearby towns </li></ul><ul><li>Beaumont: 9,000  50,000 </li></ul><ul><li>Sour Lake: village  10,000 </li></ul><ul><li>Boomtowns crowded, dirty, and rough </li></ul>
  3. 3. The Automobile & Petrochemical Industries <ul><li>The technological development that most assured the success of the oil industry was the automobile, with its internal combustion engine </li></ul><ul><li>These engines used gasoline </li></ul>
  4. 4. The Automobile & Petrochemical Industries <ul><li>Petrochemical products: </li></ul><ul><ul><li>Synthetic rubber </li></ul></ul><ul><ul><li>Plastics </li></ul></ul><ul><ul><li>Carbon black (used in tires, ink) </li></ul></ul>
  5. 5. The Effects of the Oil Boom <ul><li>1899: Texas legislature began to try to protect groundwater from oil pollution </li></ul><ul><li>Legislature made it illegal to waste oil and natural gas </li></ul>
  6. 6. The Effects of the Oil Boom <ul><li>1917: State gave the Texas Railroad Commission authority to regulate the oil business </li></ul>
  7. 7. The Effects of the Oil Boom <ul><li>1905: State begins collecting taxes on oil </li></ul><ul><li>1876: Legislature set aside 1 million acres in West Texas for the Permanent University Fund </li></ul>
  8. 8. The Effects of the Oil Boom Santa Rita No. 1 —oil well that struck oil and helped establish the Permanent University Fund Pictures of Santa Rita No. 1
  9. 9. The Effects of the Oil Boom <ul><li>The Texas A&M University System & University of Texas System use money from the Permanent University Fund </li></ul>
  10. 10. The Effects of the Oil Boom <ul><li>Education in Texas has benefited from the oil industry: </li></ul><ul><ul><li>Taxes on oil </li></ul></ul><ul><ul><li>Permanent University Fund </li></ul></ul><ul><ul><li>Philanthropy </li></ul></ul>
  11. 11. The Effects of the Oil Boom <ul><li>Philanthropy —giving money or gifts for charitable causes </li></ul><ul><li>Philanthropists give money to education, hospitals, & the arts </li></ul><ul><li>Oil industry created jobs and spurred industry </li></ul>

×