Best 2015 travel destinations for The AMERICAN CIVIL WAR played a major role in the Pennsylvania oil industry. Traditionally, the North had imported turpentine from the South in order to produce camphene, a cheap illuminating oil. However, when the war broke out, Northerners turned to Pennsylvania oil for lighting. Furthermore, because the North no longer benefited from revenue generated by Southern cotton exports, Northerners began to export more oil in order to recoup the lost revenue. In addition, after the war, many veterans flocked to the oil regions, contributing to a great speculative boom that saw prices reach nearly $14 per barrel. Investors formed hundreds of new oil companies all along the East Coast in cities such as New York and Washington, D.C. Best 2015 travel destinations 2016.