However, new technologies emerged and the most noteworthy being seismic technology. “Dynamite explosions set off sonic waves, enabling explorers to identify prospective underground formations and map geological features that might have trapped oil and gas.” This led to major new discoveries in the United States and other countries. “By the end of the 1920’s, instead of permanent shortage, the market was beginning to swim in oil. The discovery of the East Texas oil field in 1931 turned the surplus into an enormous glut: oil plunged temporarily to as little as ten cents a barrel.” Between 1978 and 1981 prices doubled and the world was said to be running out of oil again. Between the 1980s-1990s new