“In 1927, when T.S. Hogan announced plans for a 12-story office building called the Petroleum Tower, many here were incredulous. A skyscraper? On the plains of West Texas? But city leaders embraced the building and the status it conferred on the city as the heart of the new Permian Basin oil field, historians say. At least until 1929, when the price of a barrel of crude dropped to 15 cents and the just-opened building sat empty. Eighty-six years later, the Petroleum Tower still stands—and history may be starting to repeat itself.”
http://online.wsj.com/article/SB10001424127887323916304578404680953872620.html
(Visited 56 times, 1 visits today)
Related posts:
U.S.-backed rebels blow up U.S. Humvee with U.S.-supplied missiles
Russian Bear stops Finland leaving euro?
Gold Fix Study Shows Signs of Decade of Bank Manipulation
Janet Napolitano diverts $5 million to illegal immigrant college aid
Hit us with your best shot, Andy!
Monaco $400 Million Penthouse Secrecy Booms
California becomes first state in nation to regulate ride-sharing
Hungry Judges Less Likely to Grant Parole [2011]
U.S. pushing Gulf nations to develop missile defense
Bitcoin Exchange Mt. Gox Still Grappling With Slowdown
Yahoo prepares to buy Tumblr for up to $1.1 billion
Police blame 'poor lighting' after killing innocent grandfather, 72, while searching the wrong home
Madonna and Lady Gaga accused of breaking Russian visa rules
Ponzi Pandemic: 500+ Schemes Totaling $50+ Billion in 'Madoff Era'
Questions remain in Chinese earthquake that killed more than 80,000