| Abstract |
The importance of the oil industry in the economy of the United States, the development of the industry as part of the strengthening of the principles of the free enterprise system. The lesson places emphasis on not only the economic ramifications but the development of numerous technologies necessary to expand the worldwide search for greater oil supplies. Enhancement of technology is a primary aspect of this industry. Note the spread of this technology from the United States to oil explorers and drillers all over the globe. Oil is an international business, more so today than in 1901 when the modern oil industry began to explode. |