History of OIL

Before the discovery of oil, people used Wood and Coal. People burned wood for Cooking, Warmth and also used as a building material. Wood is reminded as a global fuel for centuries.
In the 18th century after the invention of Steam Engines coal comes into the picture. Steam Engines can be powered either by wood or coal. Comparatively, with wood, coal became the most preferred fuel because coal produced 4 times energy as much energy as the same amount of wood and was cheaper to produce, easier to distribute. Coal has massive growth in the scale of industrialization.                                                     
The oil had been discovered by Chinese in 600 B.C and transported in pipelines from bamboo. However, Colonel Drake's heralded discovery of oil in Pennsylvania in 1859 with a well drilled just 69.5 feet deep. The earliest exploration companies began seeking oil for refining into a newly invented lamp fuel called kerosene. This "rock oil" fuel was cheaper than Whale oil and far safer than the more popular but explosive fuel, camphene and the Spindle top discovery oil in Texas in 1901 set the stage for the new oil economy.
Early energy issues included the need for an infrastructure for producing, storing, transporting oil and natural gas. As discoveries grew, the rush for "black gold" resulted in complex economic issues on a national scale, including wasteful over-production, sudden collapses of oil prices, questionable stock promotions and frequent boom and bust cycles.