Final answer:
Frank Phillips founded Phillips Petroleum, while E.W. Marland founded Marland Oil, both of which had significant impacts on the economic development of Oklahoma's oil industry.
Step-by-step explanation:
Frank Phillips and E.W. Marland were influential figures in the development of Oklahoma's oil industry. Frank Phillips was the founder of Phillips Petroleum Company in Bartlesville, Oklahoma, which became one of the largest oil companies in the nation and contributed significantly to the state's economy and growth. E.W. Marland, an oilman and later the 10th governor of Oklahoma, founded Marland Oil Company, which later merged with Conoco, thus playing a critical role in the commercial exploitation and management of oil in the state. Both men's endeavors not only revolutionized the extraction and production of oil in Oklahoma but also instituted a foundation for future energy development, showcasing the broader impact of industry magnates on the state's prosperity.