oil industry quiz

What year was oil discovered at Spindletop?

• 1901

• 1845

• 1821

• 1914

Which two Texas cities boom into major cities as a result of the oil industry?

• El Paso, Lubbock.

• Dallas, El Paso.

• Dallas, Houston.

• Lubbock, San Antonio

Oil was referred to as _________________________ since it had the power to make overnight millionaires.

• Crude Gold

• Crude Money

• Liquid Cash

• Black Gold

What nickname was given to towns that were created quickly due to the rush of people towards successful oil fields in Texas?

• "boom towns"
• "ghost towns"
• "oil towns"
• "rail towns"

In what year did oil drillers discover the first major oil field in Texas?

• 1901

• 1836

• 1865

• 1918

Where was the first major Oil discovery in Texas?

• Spindle top

• Dallas

• Permian Basin

• East Texas

What caused the Texas economy to "Boom" in the early 1900s?

• Oil

• Cattle

• Cotton

• Railroads

A town that grows rapidly because of the discovery of oil is called a what?

• Busttown

• Boomtown

• Cooltown

• Whatevertown

A word that describes low production and low employment is what?

• Prosperity

• Boom

• Bust

• Recovery

Alternate periods of high and low levels of economic activity in the business cycle.

• Boom and Bust

• High and Lows

• Ups and Downs

• Increase and Decrease