The Apple Tree - The Lowest Hanging Fruit

The oil industry works the same way, but over a much longer time period. Early oil wells known as gushers were akin to the small step ladder in the apple tree analogy. One of the very first and most famous gushers was named Spindletop. It was drilled three miles south of Beaumont, Texas in January 1901. This marked the beginning of the Texas oil boom and a turning point in energy history.