John D. Rockefeller's Oil And Gas Industry

The Oil and Gas Industry first began during the Industrial Revolution, and would be the key for America to compete with other world powers. John D. Rockefeller, who was the richest American at the time of death would spearhead this movement. He would start the Standard Oil Company and run a monopoly on the Oil and Gas Industry for almost 40 years. Once his monopolies were split many people started their own businesses after realizing how much success Rockefeller achieved. The breaking up of Standard Oil Company would give modern day companies like Exxon Mobil , Conoco Phillips, and many other companies their start.

Standard Oil Company was created in 1870 as a company in Ohio, and would be the start of America’s oil and gas industry. Shortly after it was established it would become the largest oil refinery in the world, and was the largest corporation in the world in its commission. It was ran by founder, and chairman John D. Rockefeller who would help Standard Oil dominate the market with vertical integration, and would destroy competitors and form monopolies so they could lower cost , while also having no competition.Though Standard Oil would

Both companies had their founding through industrial giant, John D Rockefeller. ExxonMobil was responsible for the Exxon Valdez tanker explosion in March 24, 1989 in Prince William Sound, Alaska. They would eventually clean up the oil, and compensate people who were directly affected from the explosion. Exxon would end up losing millions of dollars due to this catastrophic oil spill. ExxonMobil in 2007, drilled a well named the Z-11. When drilling was completed the Z-11 was the longest measured depth extended-reach drilling well in the world. It is located on Sakhalin Island, Russia and has a depth of 37,016 feet. Since 2011, ExxonMobil has been working in the Gulf of Mexico and has discovered oil in two locations within the