Persistence Makes a Famous Company
2 months after Edwin Drake drilled the nation's first oil well
near Titusville, Pennsylvania in 1859, 19 year old Lyman Stewart
raked up $125 and bought an oil lease. Making money in oil would
be better than hauling stinky animal hides to a tannery.
He promptly went broke. But he didn't give up. Not
even when oil fell from $10.00 to 10 cents...a barrel, that
is. Not even later when he went broke again. But he gained
experience, a reputation, and a partner, Wallace Hardison, who
had the money. Together, they were successful, but later sold
out to John D. Rockefeller's interests and moved to California
in the '80s, where much oil, a new business partner, Thomas
Bard, and greater success were waiting. Union Oil Co. of California,
(later "Unocal") was formed in 1890. Unocal was acquired
by Chevron in 2005. 
