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Standard Oil Company Research Paper

630 Words3 Pages

After the Civil War, America became a nation with a high volume of industrialization. This industrial boom was something that would change America for years to come, and would help America progress into what now we call the modern world. Inventions and innovations were screening everywhere, and were changing the everyday lives of American citizens and businesses. An extremely dominant business was called the Standard Oil Company, a trust that was founded by John D. Rockefeller. Rockefeller would progress to become an extremely wealthy and successful man, mostly because of his sly and questionable business tactics. He became the monopoly for the oil industry and drove other business competitors off the grid. Standard Oil became so dominant …show more content…

What if something were the happen to the oil company? There would not be any other companies to catch the fall of it. I think that having multiple options with businesses is the right way to manage an industry. With Standard Oil being so dominant, this intimidated workers and smaller businesses into doing things they did not want to do anymore. An example of this would be how Standard Oil forced oil transport companies to pay fees while shipping the oil. This is unfair and should be illegal, but the transport company had no other choice, since Standard Oil was the only oil company that was successful. The transport company just could not afford to say no. Rockefeller and his business tactics were greedy, and I think that the government should have gotten involved with him and his company. I do not think that the government should have split up Standard Oil though, because I do not believe that the government should interfere with private businesses, whether it is a monopoly or not. I do think that they should have required laws that prevented Rockefeller from taking advantage of his wealth and forcing unfair labor upon other companies. Enforcing the Sherman Anti-Trust Act was one of the best things that Roosevelt could have done for the world of

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