Unlock oil history with real data and big numbers that shaped markets.
This nonfiction excerpt dives into the economics of crude petroleum in Pennsylvania and New York, focusing on land values, capital investment, and production in 1889. It presents how buyers, sellers, and producers valued oil lands and the equipment that fueled wells.
The material frames the scope of oil finance in the late 19th century, showing how valuations were calculated and where numbers differ by district. It also explains the challenges of counting labor in a booming industry and why wages statistics can be misleading without context.
- Learn how land value per acre varied across districts, and what that implied for overall land worth
- See the breakup of capital invested in rigs, tanks, pipelines, and other equipment
- Understand production scales, well counts, and the economics of oil in the period
- Explore why wage data in the oil regions can be tricky to interpret
Ideal for readers of American industrial history and mineral resources research, especially those curious about how early oil booms were financed and measured.