The Standard Oil Company

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The Standard Oil Trust of Ohio was and American oil producing, refining, and transporting company. It was founded in 1863 by John D. Rockefeller and lasted until 1911. During 1868, Rockefeller expanded the oil company to become the largest oil refining company in the world. In 1870, the company was renamed Standard Oil Company. After it was renamed, Rockefeller purchased most of the oil companies that were currently in business to make one large company. Rockefeller’s actions created a monopoly. A monopoly is when someone owns most or all of the company or business empire so that no one other person can control it. Rockefeller did this by buying up all of the supplies to make oil barrels so that his competitors were not able to transport oil to their customers. He also created a monopoly by buying up or creating oil related businesses such as pipeline and engineering firms. Rockefeller negotiated with the railroad companies so that it would cost less to ship the oil. This price was much less than the price of his competitors, which saved him money and made him profit more. This appalled Ida Tarbell, the daughter of a former oil company owner. Her father owned one of the companies that Rockefeller drove out of business and then later bought. Rockefeller’s monopolization of the oil industry affected Ida and her family tremendously. Tarbell was determined to prove that Rockefeller never played fair in his empire, the Standard Oil Trust. Because Ida wanted to show how Rockefeller did not play fair in his business, she was considered a muckraker. A muckraker is someone who spreads real or alleged scandal about another person. Under these circumstances, the information Ida shared with world was true. Ida Tarbell was one of the best... ... middle of paper ... ...013. . "The Dismantling of the Standard Oil Trust." Linfo. Linux, 12 Oct. 2006. Web. 8 Nov. 2013. . Page Tutor. N.p., n.d. Web. 4 Nov. 2013. . "Standard Oil Is Broken up by Supreme Court, May 15, 1911." Gale Student Resources in Context. DISCovering U.S. History, 2003. Web. 10 Nov. 2013. "Standard Oil Is Broken up by Supreme Court, May 15, 1911." Gale Student Resources in Context. Historic U.S. Events, 2012. Web. 10 Nov. 2013. "Standard Oil Trust." US History. N.p., n.d. Web. 22 Oct. 2013. . Tarbell, Ida Minerva. The History of the Standard Oil Company. New York: McClure, 1904. Google Books. Web. 5 Nov. 2013. .

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