A Brief History of Electricity Production, Oil Prices and Reserves, Business and Industry Trends Analysis

Ever since William Hart dug America’s first successful gas well in Fredonia, New York in 1821, and “Colonel” Edwin Drake drilled the first true U.S. oil well in the state of Pennsylvania in 1859, the ability of oil and natural gas to power electric generation plants, transportation, homes and industry has created both immense economic advances and significant controversy.  Many times it has been assumed that the world would quickly run out of oil.  In 1939, the U.S. Department of the Interior warned that America’s oil reserves totaled only enough to fuel the nation for about 13 years.  Similar misjudgments…

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