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Article: Oil patch was different when newspaper began. (The Oil Daily: 40th Anniversary Salute)
- Article from:
- The Oil Daily
- Article date:
- August 26, 1991
- Author:
CopyrightCOPYRIGHT 1991 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Oil Daily made its advent in 1951 in a domestic oil and gas industry vastly different from today's.
Tens of thousands of miles of pipeline had not been laid among hundreds of oil and gas fields yet to be discovered.
Oil was king. Already in plentiful and growing supply, it was the prime object of most wildcatters.
U.S. crude reserves ultimately grew so large that they beat the Axis powers in World War II and sustained our European allies in the first Arab oil boycott after a war with Israel.
Natural gas sometimes was an oilman's inadvertent discovery. Forty years ago, it sold for as little as 10 or 15 cents per thousand cubic ...