Date post: | 10-Jun-2015 |
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Economy & Finance |
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What do whales have to do with Saudi Arabia?
Defeat Darkness
58 Hours
41.5 Hours
1750 B.C.
3 Hours
1800
2 Hours
1850
Whale oil for light Demand increases Whales are common property Run out of whales Price of lamp oil goes up Look for substitutes
Samuel Kier !
Pennsylvania USA
!
1840s !
Salt Mine !
Oil byproduct
Petroleum Latin
petra - rock oleum - oil
George H. Bissell
Benjamin Stillman !
Yale University !
First to distill petroleum into
parts or fractions !
distill is to heat up and capture vapor
at different temperatures
BISSELL REPORT !
Your company have in their possession a raw material from
which, by simple and not expensive process, they may manufacture very valuable
products. !
It is worthy of note that my experiments prove that nearly the whole of the raw product may be manufactured without waste, and this solely by a well-
directed process which is in practice in one of the most
simple of all chemical processes.”
!Professor Benjamin Sillman
Yale College
Products Degrees C. Carbon
liquified petroleum gas 20 1 - 4
chemical, naphtha 70 5 - 9
gasoline 120 5 - 10
jet fuel, kerosene, paraffin 170 10 - 16
diesel 270 14-20
lubricants, oils, waxes, polishes 320 20 - 50
ships, factories, heating 370 20 - 70
bitumen, roads, roofs 400 >70
George H. Bissell !
Needed Financial Capital:
incorporation laws and investors
!
Pennsylvania Rock-Oil Company
!
Used Stillman Report
Colonel Drake August 27, 1859
!
Colonel Drake Titusville,
Pennsylvania USA
Kerosene !
Greek “wax”
!
Gasoline and Diesel
!
Dangerous byproducts
Electric Light Bulb 1883
!
!
1/4 the the price of Kerosene light
Nikolaus Otto 1867
Germany
Charles Duryea 1892
First gasoline-powered car !
!
Rudolph Diesel French - German
!
reads a book by Sadi Carnot
!
1881 patent ice maker
At first, his submission is declined as being "not original", however, after an appeal, a patent is
granted on February 28, 1892.
!Has 15 years of
protection !
Receives patents in Germany, United States,
and England !
Financial Capital Maschinefabrik Augsburg
John D. Rockefeller
Buys first refinery 1865
!
Starts Standard Oil 1870
!
Controls 90% of U.S. oil market
1890
Standard Oil !
Blue Barrel of Oil
bbl !
42 U.S. gallons 159 liters
!
allow for evaporation and
leakage to 40 gallons
Henry Ford
automobile innovator
!
Starts Ford Motor Company
1903
1908 Model T Ford
Ford Cars
Rockefeller Gasoline
Wright Brothers
December 17, 1903
1911 Monopoly Breakup
Damman No. 7 March 3,1938
!
Dhahran !
Standard Oil Rockefeller
World’s most valuable company
Hans von Ohain German
!
1939 !
Gas Turbine
Gas Turbine
Frank Whittle U.K.
!
May 15, 1941 First Jet Aircraft
Flight
Kerosene Fuel
Whales to 747s
Lubes, Waxes, other 7%
Road Construction 4%
Refinery Fuel 4%
Plastics & Petrochemicals 6%
Industrial Fuel 8%
Heating 7% Transportation
64%
Global Oil Use
Jet Fuel 6%
Residual Fuel 12%
Diesel 20%
Gasoline 26%
Transportation 64% of Global Oil Use