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Source: "Standard Oil - Wikipedia, La Enciclopedia Libre." Wikipedia:Portada Wikipedia, La Enciclopedia Libre. Web. 21 Apr. 2010.
<http://es.wikipedia.org/wiki/Standard_Oil>.
• Subject:Standard oil Company
• Keywords: Company, oil, coorporation
• Abstract:
• Was a predominant, oil producing company
• Was established in 1870 in Ohio as an Ohio coorporation. It was the
largest oil refiner in the world
• It was one of the world’s first and largest multinational coorporation until
it was destroyed my the United States Supreme court in 1911
• John D Rockefeller was chairman, which made him world’s richest man
ever.
By the creation of the Standard Oil Company, John D rockefeller became the
richest man in history. It was because of oil production, and the company
being multinational. Oil was a needed product and it made John D
Rockefeller rich.
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Source:". John D. Rockfeller 1839-1937 ." Micheloud & Cie. Web. 21 Apr. 2010.
<http://www.micheloud.com/FXM/so/jdr.htm>.
Subject:John D Rockefeller’s Life
Keywords: business, greedy, oil business
Abstract:
Greedy since his childhood, he used to buy candies to resell them to his siblings,
for a profit.
He was never seen in the oil regions, but he knew the oil business was his type.
He always liked business since childhood, after mandatory school, he was the
accountant for a grocery store, at age 16
In 1863, along with a chemist, he created a refinery, producing naphtha and
kerosene.
With low wages, and costs, his company grew very quickly.
John D Rockefeller was a person who liked business since he was a child. That
helped him on being a strong businessman and making his company grow very
fast.
Electronic Notecard # 3
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Source:"John D. and Standard Oil." BGSU :: University Home Page :: Bowling Green State University Home
Page. Web. 21 Apr. 2010. <http://www.bgsu.edu/departments/acs/1890s/rockefeller/bio2.htm>.
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Subject: Rise of the Standard Oil Company
Keywords: refined oil, barrels
Yet there was no company for refined oil, and there was nobody interested in oil refinery.
‘’ By 1865 there were thirty refineries in the town, with a capital of about a million and a half dollars and a
daily capacity of some 2,000 barrels. The works multiplied rapidly. The report Of the Cleveland Board of
Trade for 1866 gives the number of plants at the end of that year as fifty, and it dilates eloquently on the
advantages of Cleveland as a refining point over even Pittsburg, to that time supposed to be the natural
centre for the business. If the railroad and lake transportation men would but adopt as liberal a policy
toward the oil freights of Cleveland as the Pennsylvania Railroad was adopting toward that of Pittsburg,
aided by her natural advantages the town was bound to become the greatest oil refining centre in the
United States. By 1868 the Board of Trade reported joyfully that Cleveland was receiving within 300,000
barrels as much oil as Pittsburg. In 1869 she surpassed all competitors.’’
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Cleaveland reached to the heights of petroleum manufactorers. Cleaveland could hold the rank for a long
time, and each year an increase was seen from this.
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• Source:". John D. Rockfeller 1839-1937 ." Micheloud & Cie. Web. 21 Apr.
2010. <http://www.micheloud.com/FXM/so/jdr.htm>.
• Subject:Structure of Standard oil Company
• Keywords: crude oil producers, transporters, refiners, retailers
• These men, looked for oil in the muddy fields, for fortune. Many found it
as profits were huge in the beginning
• Oil fields were desolated areas, workers had to take the oil to the
refineries and then to the retailers.
• The oil was poured in big metal bowls which were then heated so that
the liquid began to evaporate. The fumes were then guided through
copper pipes.
• Oil had to find its buyers
• Sometimes refiners had their own retailers.
• This shows that the process of making oil was not that easy, it required a
lot to produce it, and for it to sell.
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Source John D. Rockfeller 1839-1937 ." Micheloud & Cie. Web. 21 Apr. 2010.
<http://www.micheloud.com/FXM/so/jdr.htm>.
Subject: short chronology
Keywords: refining, trust, Supreme Court.
‘’ 1870 The Standart Oil Company is founded by John D. Rockfeller in Cleveland, Ohio. The refining industry is
at this time decentralised, and Rockefeller's share of the refined oil business is less than 4%, with more thatn
250 competitors in the US. 1870 John D. Rockefeller and Flagler start the South Improvement Company to pool
oil transportation on railroads, letting those who take part in the scheme to get incredibly cheap rates.
1873 John D. Rockefeller already controls 80% of the refining capacity of Cleveland, which makes a third of the
national's total. 1879 The Standart Oil Trust shuts down 31 of the 53 refineries owned by the Standard Oil and
concentrate production in 3 giant refineries. 1880 Standart Oil controls almost every refinery in the US and has
more than $40 mio in cash. 1882 The alliance of all the companies that made the Standart Oil is transformed
into the Standart Oil Trust, the first big trust in the USA. The shareholders of the 14 companies and minority
shareholders of a further 26 hand in their bonds and shares to 9 trustees and get in exchange $70 mio in trust
certificates. The trustees control the company and pay dividend to the holders of these certificates. 1882 An
Ohio court dissolve the trust, but it is reincorporated in New Jersey, a state that accepts trusts. The trustees
leave their initial horizontal integration concept and work for a total vertical integration. 1890 Congress votes
the Sherman Antitrust Act and the Standart is again reincorporated, this time in New Jersey as a holding. 1900
The Standard Oil controls more than 90% of the refined oil in the USA 1911 The Supreme Court decides the
break up of the Standard Oil in smaller, competing companies.’’
The Standard Oil company was growing and growing and it became very powerful in the United States. It had
almost all control over oil production in the United States which it led the Supreme Court to break it up into
smaller companies.
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Source: "La Historia De Un Gran Emprendedor John D. Rockefeller | GestioPolis."
GestioPolis.com | Administración | Economía | Emprendedor | Finanzas | Marketing |
Recursos Humanos. Web. 21 Apr. 2010.
<http://www.gestiopolis.com/canales/emprendedora/articulos/no11/Rockefeller.htm>.
Subject: Breakdown of Standard oil company
Keywords: Supreme Court, Monopoly
In 1911, The Supreme Court’s antitrust law, required Standard Oil to be broken into small
independent companies.
If not for that court ruling, Standard Oil would be worth more than $1 trillion today.
Many economists argue that the Standard Oil was not a monopoly.
They also argue that the intense free market competition resulted in cheaper oil prices and
more diverse petroleum products for consumers.
Some economic historians have observed that Standard Oil was in the process of losing its
monopoly at the time of its breakup in 1911. Although Standard had 90% of American
refining capacity in 1880, by 1911 that had shrunk to between 60 and 65%.
Standard Oil would be the leading oil company today, controlling petroleum production and
sales over the world. The 1911 breakdown leads us to many criticisms about it.