Texas Oil boom

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

• Crude Gold

• Crude Money

• Liquid Cash

• Black Gold

Which of the following items below is not a product of oil?

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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

Who is the self taught geologist who invested his money in hiring the Hamel brothers and discovered oil at Spindletop.

• Patillo Higgins

• Fredrick Douglass

• John Adams

• Ben Jackson

Which definition best describes a "boom and bust" cycle?

• A period of great profits followed by a downward trend in an industry
• A period of poor profits followed by a large growth in an industry
• A period of high unemployment followed by a growth period
• A period of growth leading to higher employment

When the Texas oil industry was young, everyone was experimenting to find ways to get the oil out of the ground. What was the name given to these adventuresome young men?

• mad dogs
• spitfires
• wildcatters
• super guys

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

Which statement describes an economic impact of the oil industry on Texas?

• It created new jobs and increased income for many Texans.

• It caused major automobile manufacturers to move their factories to Texas.

• It led to an increase in farming and ranching opportunities in Texas.

• It led to a gradual loss of job opportunities in Texas.