138 PETROLEUM TECHNOLOGY, ECONOMICS, AND POLITICS
5.1 The Petroleum Culture
The production of energy from various sources has played a
major role in the history of human culture (Henry, 1873; Forbes,
1958a, 1958b, 1959,1964; Hoiberg, 1964). These developments have
increased the comfort, longevity, and affluence of humans. It was in
the 20
th
century that petroleum became the predominant hydrocarbon energy source and has played major role in the advancement
of human culture ever since (Munasinghe, 2002); there continues
to be a strong connection between energy and economic activity
for most industrialized and developing economies (Sadorsky, 1999;
Hall et al, 2001; Tharakan et al, 2001; Smulders and de Nooij, 2003;
Speight and Cockburn, 2008).
5.2 Oil in Perspective
5.2.1 History
The use of petroleum and petroleum derivatives had been known
for millennia (Cobb and Goldwhite, 1995). However, the petroleum
culture (or Petroleum Age by analogy to the Stone Age, Bronze Age,
and Iron Age) started in Titusville, Pennsylvania on August 27,
1859 when self-styled "Colonel" Edwin L. Drake, the first wildcatter, struck oil and transformed the northwestern portion of the state
into an economic boomtown.
Briefly and by way of explanation, a wildcatter is a person who
drills searches for oil and drills wells in areas that are not known
to be oil fields. The term originates from drillers in west Texas who
would clear prospective fields of wildlife, including the ever-present feral cats. Generally, the drillers would hang the pelts of the
dead cats in the rigging of the finished derricks, from which these
exploratory wells (wildcat wells) and later those who prospected
for them, eventually took their name.
Colonel Drake was prompted by the efforts of George Bissell,
a Wall Street attorney and investment broker, to extract rock oil
(petroleum) from the ground to serve as an illuminant to replace
whale oil, which was becoming more and more difficult torn obtain
(Henry, 1873). Benjamin Silliman developed the process of refining
the oil to a usable flammable liquid, and the final illuminating oil
product became known as kerosene.
5.1 The Petroleum Culture
The production of energy from various sources has played a
major role in the history of human culture (Henry, 1873; Forbes,
1958a, 1958b, 1959,1964; Hoiberg, 1964). These developments have
increased the comfort, longevity, and affluence of humans. It was in
the 20
th
century that petroleum became the predominant hydrocarbon energy source and has played major role in the advancement
of human culture ever since (Munasinghe, 2002); there continues
to be a strong connection between energy and economic activity
for most industrialized and developing economies (Sadorsky, 1999;
Hall et al, 2001; Tharakan et al, 2001; Smulders and de Nooij, 2003;
Speight and Cockburn, 2008).
5.2 Oil in Perspective
5.2.1 History
The use of petroleum and petroleum derivatives had been known
for millennia (Cobb and Goldwhite, 1995). However, the petroleum
culture (or Petroleum Age by analogy to the Stone Age, Bronze Age,
and Iron Age) started in Titusville, Pennsylvania on August 27,
1859 when self-styled "Colonel" Edwin L. Drake, the first wildcatter, struck oil and transformed the northwestern portion of the state
into an economic boomtown.
Briefly and by way of explanation, a wildcatter is a person who
drills searches for oil and drills wells in areas that are not known
to be oil fields. The term originates from drillers in west Texas who
would clear prospective fields of wildlife, including the ever-present feral cats. Generally, the drillers would hang the pelts of the
dead cats in the rigging of the finished derricks, from which these
exploratory wells (wildcat wells) and later those who prospected
for them, eventually took their name.
Colonel Drake was prompted by the efforts of George Bissell,
a Wall Street attorney and investment broker, to extract rock oil
(petroleum) from the ground to serve as an illuminant to replace
whale oil, which was becoming more and more difficult torn obtain
(Henry, 1873). Benjamin Silliman developed the process of refining
the oil to a usable flammable liquid, and the final illuminating oil
product became known as kerosene.