Forget Texas, Pennsylvania is the home of Big Oil! I’d been thinking about writing something about this and then I saw this blog.
On this day in 1859 Colonel Edwin Drake strikes oil at 69 feet near Titusville, Pennsylvania. It would be the world’s first successful oil well.
Colonel Drake was not a good businessman though. He failed to get a patent on his drilling invention. He lost all his savings in oil speculation. He ended up a poor old man due to losing his savings in oil speculation in 1863. The state of Pennsylvania granted him an annuity in 1872. Colonel Drake died in 1880 at the age of 61.