Pithole Goes Boom--then Bust
BOOM THEN BUST The oil town--Pithole, Pa. Pithole, PA Pithole, PA is a n example of just how quickly a particular location could go boom and bust. In January of 1865 a farm on Pithole Creek sold drilling rights for $100,000. By the end of December 1865, Pithole, PA was a city of 15-20,000 people (estimates vary)! It boasted the third busiest post office in Pennsylvania, 54 hotels, almost as many brothels, a large theater and numerous saloons and boarding houses. In October 1865 Pithole was also the site of the first oil pipeline. By December 1866, only a few thousand people were left. Six years later, Pithole was a ghost town. Oil wells in Pennsylvania in 1862 Notice how close the wells are. The wood barrels are to store oil, but a standard barrel size had not yet developed. Pithole's name came from the presence of oil filled pits lined with old logs. Nobody knew who had dug them or why. It was certainly known that oil was in th