Clark Stanley was a bad businessman w/his Snake Oil Liniment.
Ezra Kelley, a 19th Century watchmaker from Bedford Mass, was the first maker to commercially use oil from the jaws of porpoises and pilot whales to lubricate watch mechanism. In 1884, Kelley began selling this new oil (supplied by the Cook family), for a whopping US $5-$15 per gallon, which converts to around US $111 – $333 in today’s money. As a comparison, a barrel of modern crude oil, contains 42 gallons and sells for $90-$110. Whale oil was so expensive at this time due to supply and demand, but also for one other key reason – it’s lubrication properties were worth it.