Unit 13 Oil Boom Review

Front

In what year was oil discovered at Spindletop?

Back

1901

Front

All of the listed events above were effects of what? - Led to the creation of 600 oil companies - Oil replaced lumber as the leading industry in Texas - Inspired a statewide search for oil

Back

Discovery of oil at Spindletop

Front

What is an economic engine?

Back

A product or idea that stimulates the economy, causing economic growth by creating other businesses.

Front

What is it called when a company buys up all the businesses in a particular manufacturing process?

Back

Vertical Integration

Front

A person who drills exploration oil wells in areas not known to be oil fields; a prospector who looks for oil in unexplored places.

Back

Wildcatter

Front

Expanding your business by buying businesses similar to your own; owning many businesses in a particular field.

Back

Horizontal Integration

Front

In what area was most oil production concentrated?

Back

In the Coastal Plains region near the Gulf of Mexico

Front

True or False: The oil boom created new industries in Texas.

Back

True

Front

Which of the following was an effect of life in the oil fields following the oil boom in Texas? People traveled from everywhere in the world and were willing to be homeless to work in the oil industry. People became quickly uninterested in the oil industry. Many businesses lost lots of money due to investment in oil. People left Texas due to overcrowding.

Back

People traveled from everywhere in the world and were willing to be homeless to work in the oil industry.