How did oil refining at San Nicolas change Aruba’s economy in the 1920s?

The establishment of an oil refinery at San Nicolas in the 1920s served as a major turning point for the island, as it significantly improved Aruba’s economy and raised the standard of living dramatically.1

Prior to this development, the island's economy had remained weak following the discontinuation of gold mining in the early 20th century. The new refinery, which processed crude oil imported primarily from Venezuela, transformed the local economic landscape. This industrial growth also spurred a substantial increase in the island's population, driven by immigration from the United States, Europe, Venezuela, and the rest of the Caribbean.1