Age of Oil

Though unrefined petroleum has been used for various purposes since ancient times, it was during the 19th century that refinement techniques were developed and gasoline engines were created.

However, two events set the stage for the Age of Oil: The first was in 1846, when Abraham Gesner invented kerosene making coal and petroleum practical raw materials for lighting fuel.

The second was in 1859, when Edwin Drake invented the first modern drilling process for deep oil wells.

The invention of the internal combustion engine was the major influence in the rise in the importance of petroleum.

According to some definitions the age is defined as ending at the point where consumption outstrips the decreasing production making its use unprofitable or impossible.

Offshore oil well drilling platform
Continental Oil Co., C.A.T.C., Gulf of Mexico, 1955.
Oil price trend, 1861–2007, both nominal and adjusted to inflation.