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Standard Oil's Monopolization Of The Oil Industry

258 Words2 Pages
In the year of 1870, two upcoming oil tycoons by the names of John and William Rockefeller decided to join on an embark that would soon make them some of the richest men in world history. Their story began in the state of Ohio, which would soon become the epicenter of the early Standard Oil Company. Soon after the Standard Oil Company was launched, it quickly gained power over almost all of the oil refineries in Ohio. This act became the first glimmer of Standard Oil’s monopolization of the petroleum industry. The Standard Oil Company of Ohio also generated positive relationships with the nearby railroad companies giving them more power over the transportation of their products. Through this, almost all small nearby oil companies were

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