what other economic developments took place in that state due to this boom?
Industrialization - Chemical plants, steel factories, cement plants, automobile manufacturing, and many other types of heavy industry that could benefit from a ready supply of cheap fuel rapidly developed in the area.
Texas oil boom
Chemical plants, steel factories, cement plants, automobile manufacturing, and many other types of heavy industry that could benefit from a ready supply of cheap fuel rapidly developed in the area.
what is 'texas oil boom' all about? It was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas. name a few companies that drilled for oil in that region. Texaco, Gulf Oil Corporation and the Magnolia Petroleum Company.
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Texas oil boom [SEP] Economy
The U.S. GDP as a whole grew by less than 24 times during the same period. The opening of Houston Ship Channel in 1914 led to the Port of Houston overtaking the Port of Galveston as the state's dominant seaport. The situation led Houston to also overtake Galveston as the primary shipping center for cotton. The large quantities of oil and gas moving through Houston, Baytown, Texas City, and surrounding communities made the area around the ship channel attractive for industrial development. Chemical plants, steel factories, cement plants, automobile manufacturing, and many other types of heavy industry that could benefit from a ready supply of cheap fuel rapidly developed in the area.