It has been over 160 years since a commercial quantity of ‘rock oil’ was found. Through much of that time, uses for its refined liquids gradually expanded, from lighting to fuel oil to gasoline and the automobile. Gradually petroleum became the energy source of choice, though coal and natural gas were large competitors. During World… Continue reading The Global Implications of Oil Price Renormalization (Part 3)
Category: Automobile
The Global Implications of Oil Price Renormalization (Part 2)
Since shortly after 1859, oil has been subject to attempts to control its price, or should I say the price of its refined product, be that kerosene for lighting or, later, gasoline for autos. The first one to try was John D Rockefeller with his development of the Standard Oil Trust in the 1860s and… Continue reading The Global Implications of Oil Price Renormalization (Part 2)
Billy Durant, Flint Michigan and General Motors
In the late summer of 1886, 25-year old William Crapo Durant was an up-and coming businessman in Flint, Michigan. He was born in Boston, but came with his mother to her family in Flint when a baby. Billy, as he was called when grown, was the grandson of Henry Howland Crapo of New Bedford MA,… Continue reading Billy Durant, Flint Michigan and General Motors
Old Professor by the Sea 