how does it support the economy?
The value of petroleum and natural gas produced in Texas exceeded the value of all agricultural products in the state. The state's GDP grew from approximately $119 million ($ in today's terms) in 1900 to approximately $29 billion ($ in today's terms), a more than 240-fold increase.
Texas oil boom
By 1940, the value of petroleum and natural gas produced in Texas exceeded the value of all agricultural products in the state. The state's GDP grew from approximately $119 million ($ in today's terms) in 1900 to approximately $29 billion ($ in today's terms), a more than 240-fold increase.
when was oil discovered in the rio grande valley UNANSWERABLE what is texas oil boom? It  was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century what does spindle top refer to? Lucas and his colleagues struggled for two years to find oil at a location known as Spindletop Hill before making a strike in 1901
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Texas oil boom [SEP] Economy
At the start of the 20th century, agriculture, timber, and ranching were the leading economic engines of Texas. This was changed by the boom, which led to rapid industrialization. Though refineries were initially concentrated around the Beaumont and Houston areas, refining operations gradually grew throughout the state by the end of the 1920s. By 1940, the value of petroleum and natural gas produced in Texas exceeded the value of all agricultural products in the state. The state's GDP grew from approximately $119 million ($ in today's terms) in 1900 to approximately $29 billion ($ in today's terms), a more than 240-fold increase.