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The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas. The find was unprecedented in its size (worldwide) and ushered in an age of rapid regional development ...
A year later, when OPEC met in Vienna on 4 December 2015, the organization had exceeded its production ceiling for 18 consecutive months, US oil production had declined only slightly from its peak, world markets appeared to be oversupplied by at least 2 million barrels per day despite war-torn Libya pumping 1 million barrels below capacity, oil ...
On 9 January 1968, three of the then–most conservative Arab oil states – Kuwait, Libya, and Saudi Arabia – agreed at a conference in Beirut, Lebanon to found the Organization of Arab Petroleum Exporting Countries, aiming to separate the production and sale of oil from politics in the wake of the halfhearted 1967 oil embargo in response to the Six-Day War.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The Mexican–American War, [ a ] also known in the United States as the Mexican War, and in Mexico as the United States intervention in Mexico, [ b ] was an invasion of Mexico by the United States Army from 1846 to 1848. It followed the 1845 American annexation of Texas, which Mexico still considered its territory because it refused to ...
The United States Fuel Administration was a World War I -era agency of the Federal government of the United States established by Executive Order 2690 of August 23, 1917, pursuant to the Food and Fuel Control Act. The administration managed the use of coal and oil. To conserve energy, it introduced daylight saving time, shortened work weeks for ...
The United States declared war on Germany on April 6, 1917, nearly three years after World War I started. A ceasefire and armistice were declared on November 11, 1918. Before entering the war, the U.S. had remained neutral, though it had been an important supplier to the United Kingdom, France, and the other powers of the Allies of World War I.
There were three major past attempts to establish an American oil shale industry: the 1850s; in the years during and after World War I; and in the 1970s and early 1980s. Each time, the oil shale industry failed because of competition from cheaper petroleum. As of 2014, there are a number of companies doing research and development on oil shale ...