How an oilfield con artist helped turn Texas into the energy capital of America

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The transformation of Texas into the energy capital of America is intricately linked to the exploits of Columbus Marion Joiner, an oilfield con artist known as 'Dad' Joiner. In the 1920s, following the oil boom initiated by the Spindletop well, Joiner capitalized on the 'oil fever' sweeping through Texas. He operated as a promoter, convincing landowners to lease their properties for drilling while simultaneously gathering investors to fund these projects. However, Joiner had no intention of actually striking oil; instead, he perpetuated a scheme where he would sell shares in non-existent oil wells, repeatedly overselling the same projects to multiple investors.

Joiner's fraudulent activities reached a turning point with the drilling of the Daisy Bradford No. 3 well in 1930, which unexpectedly struck oil, revealing one of the largest oil fields in U.S. history. Despite his initial success, Joiner's past overselling left him unable to meet the financial demands of his investors. Ironically, while Joiner's actions inadvertently led to the establishment of a new oil regulatory system in Texas, he died broke in the late 1940s. His story illustrates how a con artist's schemes inadvertently shaped the future of the Texas oil industry and the regulatory frameworks that govern it today.