the oil boom started in texas in the 1920s.
when did the oil boom start in texas?
1920s
the terms of the annexation of the republic of texas in 1845 meant that texas kept its public lands. the 1894 discovery of oil in corsicana, texas and the 1901 discovery of oil at spindletop in beaumont, texas, began a subsequent oil boom in texas and the western u.s. in 1901, the texas legislature authorized ut austin to "sell, lease and otherwise control" oil and mineral rights for puf land. in late 1916, after a report was submitted to the land commission of the ut board of regents, the board forbade the sale of any university lands, including those of the puf. on 28 may 1923, the santa rita no. 1 oil well, in reagan county discovered the first oil on puf land; in the following decades, the puf's revenue made ut austin among the best-endowed in the nation. in 1924, the ut regent robert story requested that the legislature direct oil rights revenue directly into the available university fund; the 29th legislature complied on 3 april 1925 by passing house bill 246. the march 10, 1926, texas supreme court case "state ex rel attorney general, v. hatcher," decided against state treasurer w. gregory hatcher, who refused to comply with attorney general dan moody's demands that oil rights revenue be placed into the puf rather than the auf. the texas supreme court concluded that the 1876 constitution directed subterranean revenue to be "corpus of the estate" rather than ut austin disposable income.
permanent university fund
according to the dutch disease theory, the sudden discovery of oil may cause a decline in the manufacturing sector. the consequences will vary from country to country, depending on the country's economic structure and stage of development. for example, after the oil boom in gabon, the country showed symptoms of the dutch disease, while oil-producing equatorial guinea did not.





















































section::::history.





















































some important oil booms around the world include:





















































bullet::::- mexican oil boom (mexico, 1977–1981)





















































bullet::::- pennsylvanian oil rush (united states, 1859)





















































bullet::::- texas oil boom (united states, early 1900s–1940s)





















































bullet::::- calgary oil boom (canada, 1947)
oil boom