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and they went into the oil business, which spurred Morgan's
interest in engineering and geology. Morgan attended the
University of Leige, Belgium, and in 1938 he transferred to the
Massachusetts Institute of Technology (MIT), where he graduated
in 1939 with a B.S. degree in petroleum engineering. From there
he went to Columbia University to earn a graduate degree in
geology. Upon receiving his degree in 1940, Morgan worked for
about a year at the General Geophysical Co. prospecting for oil
and then for 2 to 3 years for Continental Oil in Indiana.
Thereafter he was hired by Dresser Industries and was put in
charge of machining for the production of warheads for half-ton
bombs.
When the war ended, Morgan opened and operated his own
business, Peerless Precision Products Co. (Peerless), in
Pawtucket, Rhode Island. Peerless specialized in making
components, assemblies, and subassemblies for engine
manufacturers, such as United Technology and Lockheed, primarily
in the aircraft industry. Morgan also organized and syndicated
joint ventures involved in drilling for oil in Texas, Oklahoma,
and New York State. Before proceeding with any oil drilling
venture, Morgan would hire a geologist in the area to assess the
potential for oil extraction. Morgan's oil drilling ventures
were about 30 to 40 percent successful in his first few years in
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