The Standard Oil Company: A Coupoly In The Oil Industry

Decent Essays
“If your only goal is to become rich, you will never achieve it.”- John Davison Rockefeller. In 1870, Rockefeller, William Rockefeller, Henry Flagler, and a group of other men formed the Standard Oil Company of Ohio. The Standard Oil Company gained a monopoly in the oil industry by buy rival refineries and flourishing companies to distribute and market the company’s products around the globe. In 1882, the various groups were linked together into the Standard Oil Trust, which controlled almost ninety percent of the nation’s refineries and pipelines. Rockefeller’s wealth made him a target for journalist and reform politicians. They viewed Rockefeller as a symbol of “corporate greed” (Staff). The question is, should the government break

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