Show History PETROLEUM I II DAY DAY August August 27 le in commercial quantities ties ies was first discovered in this country at It Titusville Pennsylvania on August 27 1859 1850 The commer commercial cial possibilities of petroleum were wele pretty well established before its discovery Colonel K g L. L Drake vas sent to Titusville by a group of Connecticut speculators Sur- Sur Surface face ace indications such as liS seepage lad had indicated the presence of pc- pc petroleum in this area A scientific study tudy of petroleum made by Professor SOl sor Benjamin Silliman Jr of Yale College had been published in 1055 It recited that an illuminant superior to any then known could be made from it candles could be made from the paraffin it contain contain- contained ed and a supervisor lubricant could be extracted from it Following the publication of the report a group of men formed the Seneca Oil company in 1858 1058 and sent Colonel Drake to Pennsyl Pennsylvania Pennsylvania vania to search for oil all He Ill selected Titusville and started drilling with witha a primitive outfit On Saturday August 27 1859 1319 oil was located at lit ata lita a depth of 69 feet flet That year car 2000 barrels of oC oil was produced By Dy 1860 production had reached five hundred thousand barrels Pros Pros- spread to other parts of the country Though oil has made many millionaires Colonel Drake its discoverer died a II poor man dependent dl upon a pension of 1500 from the State of Pennsyl Penns l vania I I |