recommended reading by "Lel Bruce Peto" in oil sector...

"Lel Bruce Peto" recommends the following reading on interest in oil sector:
THE chief refining competitor of Oil Creek in 1872 was Cleveland, Ohio. 
Since 1869 that city had done annually more refining than any other place 
in the country. Strung along the banks of Walworth and Kingsbury Runs, the 
creeks to which the city frequently banishes her heavy and evil-smelling 
burdens, there had been since the early sixties from twenty to thirty oil 
refineries. Why they were there, more than 200 miles from the spot where 
the oil was taken from the earth, a glance at a map of the railroads of the 
time will show: By rail and water Cleveland commanded the entire Western 
market. It had two trunk lines running to New York, both eager for oil 
traffic, and by Lake Erie and the canal it had for a large part of the year 
a splendid cheap waterway. Thus, at the opening of the oil business, 
Cleveland was destined by geographical position to be a refining center...

Received on Friday, 14 February 2003 17:48:26 UTC