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| “no man more singularly embodied the American oil industry and its far-flung development in the first half of the twentieth century than DeGolyer.” |
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| most eminent geologist of his day |
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| entrepreneur, innovator, scholar |
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| born in sod hut in Kansas |
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| Studied geology at OU to avoid taking Latin |
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| Discovered (1910) Portrero del Llano 4 well (Mexico) |
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More responsible than any other person for the introduction of geophysics into oil exploration
• Pioneered the development of the seismograph
• Championed seismographs use
• Said to be “crazy with dynamite” |
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| Put together Amerada on behalf of the Cowdray interest |
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With the help of Standard of NJ, her created DeGolyer and McNaughton, which became the world’s leading petroleum engineering consulting firm.
• “this too was an innovation, for it met the new need for independent appraisal of the value of petroleum reserves to serve as a basis for financing by banks and other investors” |
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| Founder of Texas Instruments |
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| Bailed out Saturday Review of Literature and became its chairman |
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Called to help Ickles during WWII in the Petroleum Administration of War
Help organize and rationalize production throughout the U.S.
SPECIAL FOREIGN MISSION: appraise oil potential in Saudi Arabia and other countries of the Persian Gulf |
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| Mastered the art of eating sheep’s eyes when they were ceremoniously given to him |
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| After his foreign mission, he returned and states that Iran, Iraq, Saudi Arabia, Kuwait, Bahrain, and Quatar amounted to about 25 billion barrels of oil—of that Saudi Arabia accounted for 20% (5 billion barrels)—in reality he actually estimated closer to 300 billion total barrels with 100 billion in Saudi Arabia |
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| “the oil in this region is the greatest single prize in all of history”—375 |
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| VP of Casoc (California-Arabian Standard Oil Company) |
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| Wrote to DeGolyer saying that no such fields had ever been seen like those in the Middle East—365 |
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| Realized that the impeding war would hurt the area’s economy (Saudi Arabia? Not sure) |
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| “The Arabs have the religion, but the Allies have the money” |
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| looked toward the British for help as well as Casoc and its two American Parents: Standard of California and Texaco |
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| Even private-enterprise republicans realized the need foreign oil concessions. “the pencil came to an awed pause at one point and place—the middle east” |
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| came to Egypt to meet the Americans on the USS Murphy |
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met with Ibn Saud to discuss the oil situation in the Middle East:
Roosevelt’s interests were a Jewish homeland in Palestine, oil, and the postwar configuration of the Middle East.
Ibn Saud wanted to assure continuing American interest in Saudi Arabia after the war to counter balance the British influence in the region. |
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| declared that he and Roosevelt were twins |
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| Truman appointed Edwin Pauley (CA oil man) as the Undersecretary of the Navy |
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| Navy Secretary James Forrestal |
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| Former investment banker form Dillon, Read |
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| One of the first senior policymakers to conclude that the U.S. had to organize itself for a protracted confrontation with the Soviet Union |
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| Supported U.S. expansion in Middle East to secure the postwar world |
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| Agreement still had no political support and was not passed |
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| April 12, 1945, FDR dies,and he succeeded him |
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