Lynne Kiesling This Marketplace story from Wednesday does a really good job of explaining the fundamental economics of new oil field discovery. The context for the story is BP’s discovery of a new oil field in the Gulf of Mexico, one of the largest discoveries in the past two decades. Part of the challenge, though, …
Michael Giberson Here’s wishing a happy 150th birthday to the oil industry! On August 27, 1859, Edwin Drake and his steam engine succeeded, after weeks of work, in drilling a successful oil well. Actually, more like “chipping” than “drilling.” Alex Madrigal has the story and several old stereograph images: A western Pennsylvania river valley seems …
150th Anniversary of Edwin Drake’s First Oil Well in Pennsylvania Read More »
Copyright © 2022 Knowledge Problem Archive