The New Oil Century: From Crude to Shale
By Wayne Bell
The Beaumont area of southeast Texas was still recovering 110 years ago from the the hurricane of 1900 that had leveled Galveston. Families were still grieving the more than 6,000 people killed, and workers were still clearing debris, but rebuilding had begun. Then a new storm hit — one that would change for decades the economy and industry of Texas, and the United States.
The oil and gas industry have driven the economy and industry of Texas for more than a century. It began on a small hill in Southeast Texas known as Spindletop. But as the 20th century waned, so did the state’s role as an oil and gas producer. Now a new revolution is under way.
The state’s new oil century brought an economic boom for industry and the state. But nothing comes without a price.