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Evolution of Oil: From Drake Well to OPEC

Explore the history of oil and gas reserves from the Drake Well in Pennsylvania to OPEC meetings, with insights into key figures like Mossadeq and the impact of the "Dutch Disease". Discover the legacy and controversies of the oil industry through significant events and historical milestones.

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Evolution of Oil: From Drake Well to OPEC

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  1. Oil and natural gas reserves Source: Mary Brooks and Kabir Kumar, http://people.brandeis.edu/~maryeliz/

  2. The Drake Well, Titusville, Pennsylvania, 1858 (claims to be the first modern oil well ) Image source: http://www.drakewell.org/shop/cat5/pages/p0017.html

  3. Nobel Brothers Oilfield, Baku, Russian Empire (now in Azerbaijan), 1800s Image source: http://azer.com/aiweb/categories/magazine/ai102_folder/102_articles/102_oil_chronology.html

  4. Well No. 1, Masjid Sulaiman, Anglo-Persian Oil Company, Iran, 1908 Image source: http://www.geoexpro.com/history/iran

  5. H.M.S. Queen Elizabeth, 1915: The first generation of all-oil naval ships Image source: http://en.wikipedia.org/wiki/Queen_Elizabeth_class_battleship

  6. The New York Times, Aug. 1, 1913

  7. Mohammad Mossadeq, prime minister of Iran, 1951 “Feet first into chaos?” Source: Time, June 4, 1951, http://www.time.com/time/covers/0,16641,19510604,00.html

  8. Mohammad Mossadeq, prime minister of Iran, 1952 “Man of the Year: He oiled the wheels of chaos.” Source: Time, January 7, 1952, http://www.time.com/time/covers/0,16641,19520107,00.html

  9. Shah Mohammad Reza Pahlavi “The Emperor of Oil” (1974) Source: Time, November 4, 1974, http://www.time.com/time/covers/0,16641,19741104,00.html

  10. OPEC meeting, Tehran, Iran, 1973 Source: http://www.opec.org/opec_web/en/50th_anniversary/697.htm

  11. Price of a barrel of oil, 1861-2008 Source: Michael Ross, The Oil Curse (Princeton, 2012), p. 51.

  12. “The Dutch Disease” Source: The Economist, November 26, 1977, p. 82.

  13. “The Dutch Disease” Source: Foreign Affairs, Vol. 60, No. 4, 1982, pp. 814-835.

  14. “The Dutch Disease” Source: Foreign Affairs, Vol. 60, No. 4, 1982, pp. 814-835.

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