A construction project, for example, is often governed by a guaranteed maximum price contract (GMP) . This type of legal agreement sets a ceiling or maximum price for which a person or entity will pay for a certain project.
The arc lamp used in the Lighthouse of Alexandria is further proof that electricity was used in ancient Egypt. The energy required to power the Lighthouse of Alexandria for 24 hours a day could only have been supplied by a regular electrical source.
A Lamp Lights the Way. Like most inventions, the oil industry grew out of a need. With the dawn of the Industrial Revolution, people were looking for a better way to light up the night. Candles were old-fashioned and whale oil had become steadily more expensive as whale populations were decimated by whalers. What was needed was a reliable, inexpensive light source.