HISTORY OF OIL

History of Oil

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History of Oil

Introduction

Oil has been used by humans in history: On the surface, is leaking oil by contact with oxygen similar to asphalt bitumen, which was about 12,000 years ago in Mesopotamia, used for sealing boats. In Babylonia, petroleum was probably already used to light - it said "naptu" derived from "nabatu" = light, the word is of Greek origin of the naphtha for oil. Oil used as a cure was as early as the ninth century of Islamic rulers in Baku (in what is now Azerbaijan) is traded, and the North American Indians treated so for wounds. The modern history of petroleum began, as in the U.S., the New York lawyer George Bissell had the idea of kerosene - used as fuel for lamps ("rock oil" to distinguish it from vegetable oil and animal fat) - sperm oil and whale oil were due to the rare whales become too expensive. Bissell thought it beneath the earth would give large amounts of this substance. Co-founded by him Pennsylvania Rock Oil Company commissioned a retired railway man Edwin Drake in order to drill for oil - 1859 Drake was in Titusville, Pennsylvania, a rich source of oil. Bissells conjecture was proved. Titusville experienced the first oil boom in history; the end of 1860 already promoted 75 oil wells. Petroleum became a successful oil lamp and Bissell a rich man (A history of Oil, 2012).

Discussion

Oil is a global business

Oil had come at the right time: In 1865, the American Civil War was over and the next right now going industrialization, the development of the West and the wave of immigrants from Europe created a huge market. Its potential, an enterprising young merchant named John D. Rockefeller had detected. He went into the oil trade - and thus became the richest man in the world. Rockefeller took care of everything that had to do with oil, from the cultivation of oak barrels of oil to its own warehouses. In 1870, he founded the Standard Oil Company, which soon controlled most of the U.S. refining capacity and entry into the oil. And oil exports: Europe also need good, cheap and light lubricating oil. As in the U.S. and Europe each Rockefeller undercutting competitors and tried to take over his business, Standard Oil became the first multinational corporation.

1871 Rockefeller monopoly pursuit but was threatened: In Baku on the Caspian Sea oil was discovered, the local oil production and refining was soon dominated by Ludwig and Robert Nobel (founder of the Nobel brothers Albert Nobel). Ludwig Nobel, who was also called the "Russian Rockefeller”, should invent the tanker. It was used from 1878 on the Caspian Sea, the mid-1880s; it also proved to be seaworthy. Production in Russia was greater than the Russian demand, and the Nobles were looking for new markets (Spin Watch, 2012). They were supported by the Rothschild banking family in Paris, which financed a railroad to the Black Sea, the Russian oil facilitated ...