The oil fever in southeastern Texas spread across the State line into Louisiana, where surface con ditions closely similar to those at Spindle Top were known to exist. The first great gusher of the Jen nings field was opened in 1904, its success result ing in other wells being sunk rapidly. One well produced over 1,500,000 barrels in the first five months of its existence, and others of the same sort suggested a repetition of the meteoric career of Texas. Illinois sprang from obscurity into sudden prominence in 1906, when several thousand wells drilled in the eastern part of the State met with almost universal success. The production increased immediately from almost nothing to between 4,000, 000 and 5,000,000 barrels in that year and over 24,000,000 barrels a year later, the most rapid de velopment that any area has ever shown. Strangely enough this enormous development was accom plished in a thoroughly businesslike manner, with none of the usual excessive land values, little spec ulation by mere adventurers and no stock peddling companies.
It was fortunate that these new fields appeared as they did, since the decline of the Texas yield in 1906 more than offset the new developments. For the first time in a dozen years, the total produc tion of the country showed a marked drop, falling from over 134,000,000 barrels to about 126,500,000 barrels. The great developments in Kansas and Illinois, with the steady growth in California in 1907, however, carried the total yield to a figure never approached before, over 166,000,000 barrels, or nearly twice as much as all the rest of the world produces.
One of the most astonishing features connected with this steady expansion of the industry into new areas has been the great change in values. Ex cessive prices have, of course, been paid for oil leases in practically every field down to the pres ent time, but, as a whole, the later years have been marked by more and more rational conditions. The total investments at Pithole, for example, ex ceeded $25,000,000 during the short period of its existence, whereas the Washington field, twenty five years later, represented an investment of less than $2,000,000, and produced many times the amount of oil yielded at Pithole. More oil prop
erty changed hands in a day during the early booms than was transferred in a whole year two or three decades later, and every transaction meant a revaluation above the former figure. Still later, the development of the Illinois field, in reality a greater boom than was ever seen in the Appa lachian field, has marked an almost complete elimi nation of the reckless speculative element. There bonuses of a few hundreds, instead of thousands, of dollars were paid on leases and royalties of an eighth of the oil instead of one third or one half, were accepted.
Such is the story of the petroleum industry of the United States, where it has attained a magni tude far above that of its closest rival. From a venture regarded with general skepticism, an in dustry involving millions of dollars and employ ing 100,000 persons has sprung up and expanded until it covers every section of the country. With great leaps and bounds, as field after field has been brought in, expansion has continued until it seems as if the limit must have been nearly reached.
The original small refineries have been replaced by enormous plants each capable of handling thou sands of barrels daily. Van Syckle's modest pipe line has grown into a network of feeding and trunk lines, sufficient to girdle the earth three or four times. Drake's well has to-day more than 50,000 descendants in actual operation, and an unnum bered host of others which have proved to be fail ures or have ceased to yield. Petroleum products unheard of fifty years ago, have long since been manufactured by millions of tons yearly to fill a multitude of demands in everyday life. On all sides expansion has been on a scale truly marvel ous in its proportions, and greater, far greater than ever before, during the last ten years.