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How Texas Became the Oil State
Most people think Texas oil started with Spindletop's gusher in 1901. But the state was already producing oil decades earlier. This episode unpacks why Texas — not Pennsylvania or Oklahoma — became the global shorthand for oil. The answer involves massive sedimentary basins, a wildcatter named Dad Joiner, and a railroad commission that accidentally controlled world oil prices. We explore how the Texas Railroad Commission's production limits stabilized markets so effectively that OPEC copied the model. And we examine the tension between the state's freewheeling wildcatter mythology and the…
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