Luckily there was no EPA then or the fines for allowing that free flowing spill would have broke the investors.
Lots of investors did go broke anyways.
Between the folks selling 2,000% or more shares of a well, to the boom and bust of a market supply outrunning it’s demand, then outrunning the supply, there was an incredible amount of dollars lost (and made by others).
The overabundance of wells at Spindletop led to a rapid decline in production. After yielding 17,500,000 barrels of oil in 1902 (~50k/d), the Spindletop wells were down to 10,000 barrels a day in February 1904. A second boom came with discovery on the flanks of the salt dome.
SPINDLETOP OILFIELD
http://www.tshaonline.org/handbook/online/articles/dos03
Handbook of Texas Online