Oil
In 1850 the first salable petroleum in California was found at Pico Canyon, near San Fernando. The oil boom does not begin until 1890 when Edward L. Doheny discovered oil at 2nd St. and glendale Blvd. in downtown L.A. This discovery set off the "second black gold rush." Los Angeles soon became the center of oil production and by 1897 it had approximately 500 derricks. In the 1920's drilling reached new heights as major strikes were hit in Whittier, Montebelo, Compton, Torrance, and Inglewood. The largest oil strikes were found at Huntington Beach in 1920, Santa Fe Springs and Signal Hill in 1921. These finds upset national oil prices, and flooded the existing storage facilities. By the end of the 20th century, almost 1,500 oil wells operated throughout L.A. Between 1952 and 1988 some 1,000 oil wells pumped some 375 million barrels of "black gold."
Agriculture
The San Fernando Valley was annexed and incorporated in 1874. The Valley provided Los Angeles with land that had ample and reliable water supply, coastal valley climate, and 12 inches of rain a year. It also benefited from an irrigation system that had been put in place during the Mission era. This irrigation system facilitated the planting of wheat and fruit trees. By the 1920's fruit and especially citrus cultivation was San Fernando's biggest industry. Olives also benefited from the natural conditions of the Valley, and the 2,000 acre Sylmar Olive Grove, which was the largest in the nation at that time, produced 50,000 gallons of olive oil, and 200,000 gallons of ripe olives. Agricultural out led to the establishment of other industries such as canning companies, and fruit preservers. Agricultural land eventually gave way to housing development following World War II as there was a major migration to Southern California to work in the production industries.
Harbors
The San Pedro Harbor became operationa during the late 1840's and became the the principal harbor for trade in the county. In 1911 the Long Beach Harbor was established, and a port was added to San Pedro looking to give Los Angeles a position in international trade.
Today the Port of Long Beach is the second busiest sea port in the nation. In 2003 merchandise trade passing through Long Beach was valued at $96 Billion.
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