Robert Earll McConnell was a prominent mining engineer, an industrialist, a financier, a philanthropist, and a member of The American Institute of Mining, Metallurgical, and Petroleum Engineers for 55 years. He was a strong advocate for the valuable role of engineering and science in enriching society through discovery and development of natural resources like petroleum.
McConnell was born in 1889. He studied mining engineering at Colombia University School of Mines, where he roomed with Harvey S. Mudd, Jr. He worked as an engineer for Harvey Mudd, Sr. before serving as a Lieutenant, U.S.N.R.F. in WWI. Following military service he worked as a mining engineer, studying the stock market in his spare time. Eventually he established a venture capital company active in financing start-ups and arranging capital investments into emerging technologies of the time. After a successful career as a venture capitalist, McConnell embarked on a third career in public service. McConnell served on many government boards and advisory committees, taking a salary of only $1.
McConnell pursued and succeeded in three rewarding careers - engineering, finance, and public service. Over his lifetime of experiences in these three disciplines, he developed a philosophy regarding the role of the engineer in the free enterprise society characteristic of the United States, stating:
“The production of mines is new wealth contributed to the world; the return to the mining engineer comes from the earth, not from the pockets of any individual. Metals and minerals with age-old uses for civilization, and newly discovered products of the earth as well as discovery of their usefulness, enrich society as a whole. The engineer, then, is one of the original entrepreneurs, one of the basic motive forces of capitalism.”
McConnell firmly believed in the value of capitalism and its positive influence on all of society. In his autobiography, he states, “The advances in our standard of living and well-being are caused by technological improvements in production made by the engineer or scientist plus the new industry developments brought about largely by entrepreneurs.”
By carefully following his capitalist principles, McConnell amassed enormous wealth for himself and for many clients while enabling the industrial development of the United States that advanced the standard of living for everyone. In 1936, McConnell established the Robert Earll McConnell Foundation to share his fortune. It is from this foundation that the Robert Earll McConnell Award was established.
The award is presented by SPE and AIME to recognize beneficial service to mankind by engineers through significant contributions that advance a nation’s standard of living or replenish its natural resource base. You can celebrate the positive impact petroleum engineering has on society by nominating a colleague you know who has made a significant difference. SPE is accepting nominations for the Robert Earll McConnell Award through 15 February. Visit http://www.spe.org/awards/mcconnell.php to learn more.