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5 Shale Oil Enterprises (c.1870-c.1900)
The shale oil industry experienced mixed fortunes during the period 1870-1900. The industry continued to experience rapid growth during the early part of the 1870s but, by the mid 1870s, competition from overseas caused a further fall in prices and closure of many of the smaller companies. By the end of the decade, a small number of larger companies survived to enjoy improved market conditions and greater efficiencies in production through technological advances. The resulting boom led, once more, to the formation of a number of new companies and continued technological innovations however competition from imported oils continued to influence the profitability of many of these organisations.

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