Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globeMcLaurin, John J. (John James)
History
Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globe
McLaurin, John J. (John James)
Petroleum -- History; Petroleum industry and trade -- North America -- History
A larger percentage of the oil-product of the United States is sent
abroad than of any other except cotton, while nearly every home in the
land is blessed with petroleum’s beneficent light. America has toed the
mark so grandly that the petroleum-industry is the one circus bigger
inside the canvas than on the posters. Beginning with 1866, the exports
of illuminating oils were doubled in 1868, again in 1871, again in 1877
and again in 1891. The average exports per week in 1894 were as much as
for the entire year 1864. Not less impressive is the marvelous reduction
in the price of refined, so that it has found a welcome everywhere.
Export-oil averaged, in 1861, 61½ cents per gallon; in 1871, 23⅝ cents
per gallon; in 1881, 8 cents per gallon; in 1891, 6⅞ cents per gallon;
in 1892, 6 cents per gallon; in 1894, 5⅙ cents per gallon, or
one-twentieth that in 1861. But this decrease, great as it is, does not
represent the real reduction in the price of oil, as the cost of the
barrel is included in these prices. A gallon of bulk-oil cost in 1861
not less than 58 cents; in 1894, not more than 3½ cents, or hardly
one-seventeenth. In January, 1871, the price was 75 cents; in January,
1894, one-twenty-fifth that of thirty-three years before. Consumers have
received the benefit of constant improvements and reductions in prices,
while thirteen-hundred-million dollars have come from abroad to this
country for petroleum.
The glimmer has broadened and deepened into noon-day brightness.
THE BABY HAS GROWN.
PRODUCTION AND PRICES OF CRUDE PETROLEUM IN PENNSYLVANIA, WEST VIRGINIA
AND
SOUTH-EASTERN OHIO, QUANTITY AND VALUE OF OIL (REFINED REDUCED TO CRUDE
EQUIVALENT) EXPORTED FROM THE UNITED STATES, WELLS COMPLETED, AND
AVERAGE YEARLY PRICE OF REFINED AT NEW YORK, FROM SEPTEMBER
1ST, 1859, TO DECEMBER 31ST, 1896.
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If needs be, petroleum may well be defiant;
The baby has grown to be earth’s greatest giant.
Public-domain text, read in full here on John Shaqi.
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