boomtown

boomtown
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  • drilling: 1894 drillers strike oil in  Corsicana
  • strike: the success at Corsicana was quickly overshadowed by a discovery at an oil field near Beaumont 
  • boom: the spindletop well strikes oil,producing more than 17 million barrels of oil the next year.  
  • boom-town: most Texas boomtowns were crowded, dirty  and rough places 
  • oil depletes: the rush of companies drilling oil at spindletop soon led to the depletion of the field.
  • bust:with the large quantities of oil being produced, the supply of oil outpaced the national demands as a result, the price of oil dropped 
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