Impressed by the scale of activity unfolding around Titusville, the author tries to describe how profitable oil extraction is.
Impressed by the scale of activity unfolding around Titusville, the author tries to describe how profitable oil extraction is. Thus we learn that the daily operating costs of a pump do not exceed $6, the cost of a gallon of oil is 30 cents, a barrel holds exactly 42 gallons, and the daily flow rate of a well is somewhere between 12 and 75 barrels. There we also find a description of how Titusville changed over the year: it got its own newspaper and refinery, the number of buildings doubled, the population quadrupled, a large hotel was founded, and preparatory work for the construction of a railroad is underway. The author's overall impression is that the city resembles a young San Francisco more than a quiet farmers' haven. Special mention is made of the cooperage, which produces about two hundred barrels daily. The product is indeed in short supply!
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