Answer: As the first oilfield in the U.S. Gulf Coast, Spindletop inspired further drilling and oil discoveries in the region. Drilling in other salt fields proved to be very successful. In a short time, the Gulf Coast became a major oil region. During that time, Texaco and Gulf Oil grew into major oil producers.
Explanation:
During the Great Depression, the United States demanded repayment of loans it made to European nations for World War I, which was almost impossible since this revenue was supposed to come from war-torn Germany.
