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A community with the peculiar name of Pithole soon sprung forth there, and by September of that year it had a population of about 15,000 people. Pithole would go down in history as America’s biggest oil boomtown. 16 The story of Pithole symbolizes the problems that a limited supply of fossil fuels can bring to a local economy. Fueling the dream, however, some individuals did strike it rich in petroleum. S. entrepreneurs who became financially wealthy from the nineteenth century’s newly emerging oil industry, none is more famous than John D.

We can and must use the innovative spirit our nation has long cherished to deal with our present fossil-fuel challenge. In the 1850s, American entrepreneurs invented a practical way to distill petroleum to manufacture kerosene, solving our first “oil crisis” at a time when the nation’s supply of whale oil became threatened by overhunting. And in our present energy crisis here in the first decades of the twenty-first century, we have even more sophisticated methods at hand that will enable us to take advantage of energy sources that are cleaner and more reliable than fossil fuels.

Org 38 e A M E R I C A’ S E N E R G Y PA S T A N D P R E S E N T business. But over the next decade, by using the company’s influence with the railroads in transporting its product throughout the United States, Rockefeller and his ruthless business partners forced many smaller oil companies to merge with Standard Oil. The company thus grew into a monopoly that held almost complete control of America’s oil production and refining. This tremendous control that Standard Oil maintained over our nation’s petroleum fuel worried many citizens, including President Theodore Roosevelt, who worked to increase the federal government’s regulatory power over monopolistic business practices.

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