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Texas quickly became one of the leading oil-producing states in the U.S., along with Oklahoma and California; soon the nation overtook the Russian Empire as the top producer of petroleum. By 1940 Texas had come to dominate U.S. production. Some historians even define the beginning of the world's Oil Age as the beginning of this era in Texas. [1]
Texas counties by GDP in 2021 (chained 2012 US$) The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.694 trillion as of 2023. [7] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [8]
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
The port of Corpus Christi opened in 1925 after culminating efforts that began as early as 1848 to obtain a deep-water port. [6] The Port of Corpus Christi currently is the sixth largest U.S. port and deepest inshore port on the Gulf of Mexico, it handles mostly oil and agricultural products. In 2005 it was ranked as the 47th largest in the ...
The effect of industrialisation shown by rising income levels in the 19th century, including gross national product at purchasing power parity per capita between 1750 and 1900 in 1990 U.S. dollars for the First World, including Western Europe, United States, Canada and Japan, and Third World nations of Europe, Southern Asia, Africa, and Latin America [1] The effect of industrialisation is also ...
Chicago and Northwestern railroad locomotive shop in the 20th century. In sociology, an industrial society is a society driven by the use of technology and machinery to enable mass production, supporting a large population with a high capacity for division of labour.
The urbanization of the United States occurred over a period of many years, with the nation only attaining urban-majority status between 1910 and 1920. [2] Currently, over four-fifths of the U.S. population resides in urban areas. [2]
Because these previously agrarian western states lay outside of the various Standard Oil's production and refining networks, cities like Long Beach, California, Dallas, Texas, and Houston, Texas emerged as major centers for refining and managing these new fields under companies like Sunoco, Texaco, and Gulf Oil.