What were the social impacts of spindle-top of oil industry on Texas?

When the geysor of oil exploded

On January 10, 1901, an enormous geyser of oil exploded from a drilling site at Spindletop Hill, a mound created by an underground salt deposit located near Beaumont in Jefferson County, southeastern Texas. Reaching a height of more than 150 feet and producing close to 100,000 barrels a day, the "gusher" was more powerful than any previously seen in the world. A booming oil industry soon grew up around the oil field at Spindletop, and many of the major oil companies in America, including Gulf Oil, Texaco and Exxon, can trace their origins there.