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October 25, 2019
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6 min read
November 8, 1880 – Edwin Laurentine Drake Dies A monument located in Titusville, Pennsylvania was constructed 1901 to honor Edwin Drake. Edwin Drake drilled just three wells in his life, but he is wid
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October 25, 2019
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6 min read
November 21, 1925 — Small Oil Companies Merge to Form Magnolia Petroleum Magnolia Petroleum operated over 500 service stations across from Texas to Arkansas. In 1925, several small oil companies decid
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October 25, 2019
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4 min read
July 25th, 1543 – Oil Discovery Oil was first discovered in the New World was made by Spanish explorers, hundreds of years before the oil well was struck in the United States. This unexpected discover
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October 25, 2019
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5 min read
July 19th, 1957 – Alaskan Oil Industry Hits Major Milestone While oil production was already happening in the area when the first commercial oilfield in Alaska was discovered in July of 1957. This occ
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October 25, 2019
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4 min read
July 11th, 2008 – Oil Prices Reach a Historic High Oil prices reached a high in July 2008 when they skyrocketed to $147.27 per barrel. New York Mercantile Exchange prices also peaked at $145.29 per ba
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October 24, 2019
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7 min read
May 29th, 1940 – Nebraska Finally Strikes Oil After 50 years of unsuccessful efforts, the earliest commercial oil well in Nebraska was completed in 1940. It was located in the southeastern portion of
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October 24, 2019
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6 min read
May 23th, 1937 – Rockefeller Dies After Decades of Contribution to Oil Industry Oil tycoon and the founder of Standard Oil Company, John D. Rockefeller passed away on May 23rd, 1937. His demise came
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October 24, 2019
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5 min read
June 6th, 1932 – Gasoline Sales Taxed for the First Time In 1932, the Revenue Act marked the first time gasoline sales were taxed in the United States. In 1919, Oregon became the first state to tax ga
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October 24, 2019
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5 min read
June 28th, 1967 – Smithsonian Museum and The Hall of Petroleum In 1967, a new attraction opened at the Smithsonian Institution’s Museum of History and Technology. The Hall of Petroleum originally incl
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October 24, 2019
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5 min read
June 20th, 1977 – Trans-Alaska Pipeline is Finally Complete Following three years of construction, the Trans-Alaska Pipeline started carrying oil on June 20th, 1977. The pipeline serviced nearly 800
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