Rockefeller Essay

During the Gilded Age, the United States saw an increase in the power of big businesses, many of which monopolized their industries. This time period, although it appeared successful from the outside, was filled with governmental corruption. Manipulated by the robber barons of the Gilded Age, the United States government fell victim to their control. Contrary to this downfall, the nation celebrated much success in the numerous life-changing inventions attributed to this era. With the invention of the internal combustion engine, among others, there also came a major increase in the demand for oil. Entering the flourishing oil business in 1870, John D. Rockefeller created the Standard Oil Company, which later dominated the entire oil industry. Although he had years filled with success in the business, Rockefeller faced a disastrous court case that dissolved his company and years of his hard work. Despite this catastrophic event, Rockefeller found other ways to contribute his knowledge and hard-work by making innumerable philanthropic donations. After many years and countless efforts, John D. Rockefeller had one of the most outstanding and positive influences on the United States through his work in the oil industry and his philanthropic actions.

Two of the most well-known and successful companies of the Industrial Revolution were the Standard Oil Company, and the Carnegie Steel Company. Both were exceedingly successful in virtually removing all competition in their respective fields of business and controlling almost all of the production capacity of their respective products in the United States. Their founders, John D. Rockefeller of the Standard Oil Co., and Andrew Carnegie of the Carnegie Steel Co. conducted business practices that were different from one another in how they dealt with competition as seen in the undercutting or cheap type

When people hear the word oil it is commonly interpreted as gas, but the oil that we drill is not what goes into our cars. The oil that is retrieved from the ground is called crude oil, Oil in its raw natural form and when it becomes refined it is used in plastics, rubber, and gasoline. ”Gasoline is a volatile, flammable liquid obtained from the refinement of petroleum, or crude oil. It was originally discarded as a byproduct of kerosene production.” The first oil well was found and harvested in Titusville, Pennsylvania by a man named Edwin L. Drake, in 1859. The well was about 70 feet deep (How gas). It pumped between 20-40 barrels a day

In a move that would transform the American economy, Rockefeller set out to replace a world of independent oilmen with a giant company controlled by him. In l870, begging bankers for more loans, he formed Standard Oil of Ohio. The next year, he quietly put what he called "our plan" -- his campaign to dominate the volatile oil industry - into devastating effect. Rockefeller knew that the refiner with the lowest transportation cost could bring rivals to their knees. He entered into a secret alliance with the railroads called the South Improvement Company. In exchange for large, regular shipments, Rockefeller and his allies secured transport rates far

Rockefeller was an intelligent man who sought for better means in order to increase productivity. He used the opportunities of the time to take advantage of a free system. One of his best characteristics was that he lowered the cost of oil across the word by his largest scale production. To see that his oil was top quality at minimum cost he also hired specialist managers, this was a revolutionary concept at the time.

and the wealth it brought, when any other competitor tried even to step foot into the oiling industry, Rockefeller dropped his prices until the rookie industry was forced out. After he ! regained monopoly, he then jacked up the prices. Sure, the people were

Standard Oil’s sales continued to increase, and the company began to acquire smaller companies to continue their rapid growth. When Rockefeller would acquire smaller companies, he would completely shut down the ones he believed were inefficient and keep the ones that he thought he could bring up to his caliber of quality. Unfortunately for the workers from the companies that were shut down, they were put out of work. Rockefeller also began to warehouse oil products in order to have more control over the oil market by having the ability to possess large amounts of oil. Rockefeller had the ability to send in oil, or hold the oil in the warehouses which could cause a riff in the oil market. In order to acquire more business from customers Rockefeller struck a deal with Lake Shore Railroad, to give Standard Oil a 71% discount in return for a promise to ship at least 60 carloads of oil daily and to handle the loading and unloading. This move cut the throats of smaller refineries because they could not produce enough oil fast enough to be able to be offered discounts by railroad companies like Rockefeller did. These deals that Rockefeller had in place allowed

The United States has come to be known as a major world superpower throughout history. One of the main parts of America that has contributed to its renowned strength has been its economy. The United State’s economy has been growing ever since it began. Credit for its strength and progress in development can be attributed to the financial geniuses of their time. John D. Rockefeller became an economical giant during his time when he changed the face of business by developing ground-breaking new strategies to ensure financial success. Rockefeller dramatically changed the business field during The Gilded Age. He did so through the use of his social Darwinistic philosophy of capitalism, inclusion of vertical and horizontal integration,

In a move that would transform the American economy, Rockefeller set out to replace a world of independent oilmen with a giant company controlled by him. In l870, begging bankers for more loans, he formed Standard Oil of Ohio. The next year, he quietly put what he called "our plan" -- his campaign to dominate the volatile oil industry - into devastating effect. Rockefeller knew that the refiner with the lowest transportation cost could bring rivals to their knees. He entered into a secret alliance with the railroads called the South Improvement Company. In exchange for large, regular shipments, Rockefeller and his allies secured transport rates far lower than those of their bewildered competitors. John D. Rockefeller said, "The day of combination is here to stay. Individualism is gone forever, never to return" (Hawke 128).

John Davison Rockefeller was the founder of Standard Oil Company in 1870 and ran it until he retired in 1897. Standard Oil gained almost complete control over the oil refining market in the United States by underselling its competitors. Rockefeller and his associates owned dozens of corporations operating in just one state.

John D. Rockefeller also started at humble beginnings. By taking risks and investing he found himself engulfed in the rapidly expanding oil industry. Not yet in the business directly he started his own company, The Standard Oil Company of Cleveland. Rockefeller's stake in the oil industry increased as the industry itself expanded caused by the rapidly spreading use of kerosene. The Standard Oil eventually, in a few years, purchased and controlled almost all the refining firms in Cleveland, plus two refineries

The Standard Oil Trust of Ohio was and American oil producing, refining, and transporting company. It was founded in 1863 by John D. Rockefeller and lasted until 1911. During 1868, Rockefeller expanded the oil company to become the largest oil refining company in the world. In 1870, the company was renamed Standard Oil Company. After it was renamed, Rockefeller purchased most of the oil companies that were currently in business to make one large company.

British Petroleum was created by the Germans. During the war, the British seized the company’s assets and sold them to Anglo-Persian in 1917 (“www.bp.com,” n.d.). Gas and electric would take over the use of kerosene for heating homes and gasoline for the next ten years.

Significant oil companies such as Sonatrac was founded and became immersed in LNG production and transportation. Along with Exxon, Shell, and Burma Oil who became profoundly involved (Kennedy). As refineries were built in the nineteen sixties, the growth of LPG expanded. The regional business had its own structure for distribution and sale. During the oil crisis of nineteen seventy-three, many countries built liquid recovery plants when they realized LPG is a significant product. The expansion within the middle east of LPG production expanded tremendously between nineteen seventy-five and nineteen eighty-five topping out at thirty million tons by nineteen eighty-five. By nineteen eighty, exportation of LPG went worldwide (History of LPG).

Significant oil companies such as Sonatrac was founded and became immersed in LNG production and transportation. Along with Exxon, Shell, and Burma Oil who became profoundly involved (Kennedy). As refineries were built in the nineteen sixties, the growth of LPG expanded. The regional business had its own structure for distribution and sale. During the oil crisis of nineteen seventy-three, many countries built liquid recovery plants when they realized LPG is a significant product. The expansion within the middle east of LPG production expanded tremendously between nineteen seventy-five and nineteen eighty-five topping out at thirty million tons by nineteen eighty-five. By nineteen eighty, exportation of LPG went worldwide (History of