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Encyclopedia > Standard Oil

Standard Oil was a predominant integrated oil producing, transporting, refining, and marketing company. Established in 1870 and It operated as a major company trust, it was one of the world's first and largest multinational corporations, until it was dissolved by the United States Supreme Court in 1911.[1]. John D. Rockefeller was a founder, dominant partner and major shareholder, and the company made him a billionaire and eventually the world's richest man. Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - creator of the process of refining of kerosene from crude oil. ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... A multinational corporation (MNC) is a corporation or enterprise that manages production establishments or delivers services in at least two countries. ... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      The Supreme Court of the United States (sometimes colloquially referred to by the... Year 1911 (MCMXI) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Saturday of the 13-day-slower Julian calendar). ... John Davison Rockefeller, Sr. ...

Standard Oil Refinery No. 1 in Cleveland, Ohio, 1899
Standard Oil Refinery No. 1 in Cleveland, Ohio, 1899

Contents

Image File history File links Standard_Oil. ... Image File history File links Standard_Oil. ... Cleveland redirects here. ...

Early years

Standard Oil began as an Ohio partnership formed by the well-known industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, and a silent partner Stephen V. Harkness. In 1870 Rockefeller incorporated Standard Oil in Ohio. Using highly effective tactics, later widely criticized, it absorbed or destroyed most of its competition in Cleveland in less than 2 months in 1872 and later throughout the northeastern United States, putting numerous corporations out of business. Official language(s) English de facto Capital Columbus Largest city Columbus Largest metro area Greater Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... John Davison Rockefeller, Sr. ... William Rockefeller (May 31, 1841-June 24, 1922), American financier, was a cofounder of the prominent United States Rockefeller family. ... Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was a United States tycoon, real estate promoter, railroad developer and Rockefeller partner. ... Samuel Andrews (1836-1904) was a chemist and inventor. ... In the common law, a partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which they have all invested. ... Stephen Harkness was an American bussinessman who ate snails and chili dogs and invested along with the oil titan, John D. Rockefeller, Sr. ... Cleveland redirects here. ... Year 1872 (MDCCCLXXII) was a leap year starting on Monday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Saturday of the 12-day slower Julian calendar). ...


In the early years, John Rockefeller dominated the combine, for he was the single most important figure in shaping the new oil industry.[1] He quickly distributed power and the tasks of policy formation to a system of committees, but always remained the largest shareholder. Authority was centralized in the company's main office in Cleveland, but decisions in the office were made in cooperative way.[2] A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. ...


In response to state laws trying to limit the scale of companies, Rockefeller and his partners developed innovative ways of organizing, to effectively manage their fast growing enterprise. In 1882, they combined their disparate companies, spread across dozens of states, under a single group of trustees. This organization proved so successful that other giant enterprises adopted this "trust" form. In 1897, John Rockefeller retired from the Standard Oil Company of New Jersey, the holding company of the group, but remained a major shareholder. Vice-president John Dustin Archbold took a large part in the running of the firm. John Dustin Archbold (1848-1916) was an American capitalist and one of the United States earliest oil refiners. ...


At the same time, state and federal laws sought to counter this development with "antitrust" laws. In 1911, the US Justice Department sued the group under the federal antitrust law and ordered its breakup into 34 companies. This article is about anti-competitive business behavior. ... The United States Department of Justice (DOJ) is a Cabinet department in the United States government designed to enforce the law and defend the interests of the United States according to the law and to ensure fair and impartial administration of justice for all Americans. ...


Business strategy

Standard Oil's market position was initially established through an emphasis on efficiency and responsibility. While most companies dumped gasoline in rivers (this was before the automobile was popular), Standard used it to fuel its machines. While other companies' refineries piled mountains of heavy waste, Rockefeller found ways to sell it. For example, Standard created the first synthetic competitor for beeswax and bought the company that invented and produced Vaseline, the Chesebrough Manufacturing Company, which was a Standard company only from 1908 until 1911. Petrol redirects here. ... For the rock song by Nirvana, see Beeswax (song). ... Petroleum jelly or petrolatum is a byproduct of the refining of petroleum, made from the residue of petroleum distillation left in the still after all the oil has been vaporized. ...


As the company grew through effective business practices, it developed other strongly competitive strategies, including a systematic program of offering to purchase competitors. After purchasing them, Rockefeller shut down those he believed to be inefficient and kept the others. In a seminal deal, in 1868, the Lake Shore Railroad, a part of the New York Central, gave Rockefeller's firm a $0.25 per bbl. (71%) discount off of its listed rates in return for a promise to ship at least 60 carloads of oil daily and to handle the loading and unloading on its own, a huge competitive advantage. The New York Central Railroad, known simply as the New York Central in its publicity and with the AAR reporting mark of NYC, was a railroad operating in the North-Eastern United States. ...


Smaller companies decried the deals as unfair because they were not producing enough oil to qualify for discounts. In 1872, Rockefeller joined the South Improvement Company which would have allowed him to receive rebates for shipping and receive drawbacks on oil his competitors shipped. But when this deal became known, competitors convinced the Pennsylvania Legislature to revoke South Improvement's charter. No oil was ever shipped under this arrangement. The South Improvement Company was a Pennsylvania corporation in 1871-1872. ... Capitol Building The Pennsylvania General Assembly is the U.S. state of Pennsylvanias legislative branch, seated at the states capital, Harrisburg. ...


In one example of Standard's aggressive practices, a rival oil association tried to build an oil pipeline to overcome Standard's virtual boycott of its competitors. In response, the railroad company at Rockefeller's direction denied the association permission to run the pipeline across railway land, forcing consortium staff to laboriously decant the oil into barrels, carry them over the railway crossing in carts, and pump the oil manually into the pipeline on the other side. When Rockefeller learned of this tactic, he instructed the railway company to park empty rail cars across the line, thereby preventing the carts from crossing his property. [citation needed] Look up Boycott in Wiktionary, the free dictionary. ... For other uses, see Barrel (disambiguation). ...

Standard's actions and secret transport deals helped its kerosene price to drop from 58 to 26 cents from 1865 to1870. Competitors disliked the company's business practices, but consumers liked the lower prices. Standard Oil, being formed well before the discovery of the Spindletop oil field and a demand for oil other than for heat and light, was well placed to control the growth of the oil business. The company was perceived to own and control all aspects of the trade. Oil could not leave the oil field unless Standard Oil agreed to move it: the "posted price" for oil was the price that Standard Oil agents printed on flyers that were nailed to posts in oil producing areas, and producers had no power to negotiate those prices. Image File history File links STNDOIL2. ... Image File history File links STNDOIL2. ... Kerosene or kerosine, also called paraffin oil or paraffin in British usage (not to be confused with the waxy solid also called paraffin wax or just paraffin) is a flammable hydrocarbon liquid. ... 1865 (MDCCCLXV) is a common year starting on Sunday. ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... Spindletop is a salt dome oil field located in south Beaumont, Texas (approx. ...


In 1890, Standard Oil of Ohio moved its headquarters from Cleveland to its permanent headquarters at 26 Broadway in New York City. Concurrently, the trustees of Standard Oil of Ohio chartered the Standard Oil Company of New Jersey (SOCNJ) to take advantages of New Jersey's more lenient corporate stock ownership laws. SOCNJ eventually became one of many important companies that dominated key markets, such as steel and the railroads. Cleveland redirects here. ... New York, New York and NYC redirect here. ... For other uses, see Steel (disambiguation). ...


Also in 1890, Congress passed the Sherman Antitrust Act — the source of all American anti-monopoly laws. The law forbade every contract, scheme, deal, or conspiracy to restrain trade, though the phrase "restraint of trade" remained subjective. The Standard Oil group quickly attracted attention from antitrust authorities leading to a lawsuit filed by then Ohio Attorney General David K. Watson. Congress in Joint Session. ... John Sherman The Sherman Antitrust Act (Sherman Act[1], July 2, 1890, ch. ... This article is about anti-competitive business behavior. ...


One of the original "muckrakers" was Ida M. Tarbell, an American author and journalist. Her father was an oil producer whose business had failed due to Rockefeller's business dealings. After extensive interviews with a sympathetic senior executive of Standard Oil, Henry H. Rogers, Tarbell's investigations of Standard Oil fueled growing public attacks on Standard Oil and on monopolies in general. Her work was published in 19 parts in McClure's magazine from November 1902 to October 1904, then in 1904 as the book The History of the Standard Oil Company. Bold text McClures Magazine (cover, Jan, 1901) published many early muckraker articles. ... Ida M. Tarbell, 1904 Ida Minerva Tarbell (November 5, 1857–January 6, 1944) was a teacher, an author and journalist. ... Henry Huttleston Rogers (January 29, 1840 – May 19, 1909) was a United States capitalist, businessman, industrialist, financier, and philanthropist. ... McClures or McClures Magazine was a popular United States illustrated monthly magazine at the turn of the 20th century, often compared to the longer-running The Atlantic Monthly. ... The History of the Standard Oil Company is a book written by journalist Ida Tarbell in 1904. ...

From 1882 to 1906, Standard paid out $548,436,000 in dividends at 65.4% payout ratio. A large part of the profits was not distributed to stockholders but was put back into the business. The total net earnings from 1882 to 1906 amounted to $838,783,800, exceeding the dividends by $290,347,800. The latter amount was used for plant expansion. Image File history File links STNDOIL.GIF Summary Spreadsheet Standard Oil data Licensing I, the creator of this work, hereby release it into the public domain. ... Image File history File links STNDOIL.GIF Summary Spreadsheet Standard Oil data Licensing I, the creator of this work, hereby release it into the public domain. ... It has been suggested that ex-dividend date be merged into this article or section. ... Free cash flow measures a firms net increase in Operating cash flow (this includes the reduction for interest), less the dividends paid to preferred shareholders, and less expenditures necessary to maintain assets (often referred to as capital expenditures or Capex). Increases in non-cash current assets may, or may...


The Standard Oil Trust was controlled by a small group of families. Rockefeller stated in 1910: "I think it is true that the Pratt family, the Payne-Whitney family (which were one, as all the stock came from Colonel Payne), the Harkness-Flagler family (which came into the Company together) and the Rockefeller family controlled a majority of the stock during all the history of the Company up to the present time".[3] The most prominent members of the American Whitney family begins with William Collins Whitney (1841-1904), a descendant of John Whitney (1592-1673), an English immigrant who settled in Watertown, Massachusetts. ... The Rockefeller family, the family of John D. Rockefeller (1839-1937) (Senior) and his brother William Rockefeller (1841-1922), is an American industrial, banking, philanthropic, and political family of German American origin that made the worlds largest private fortune in the oil business during the late 19th and early...


These families reinvested most of the dividends in other industries, especially railroads. They also invested heavily in the gas and the electric lighting business (including the giant Consolidated Gas Company of New York City). They made large purchases of stock in US Steel, Amalgamated Copper, and even Corn Products Refining Company.[4] The United States Steel Corporation (NYSE: X), later named USX Corporation in 1991, then renamed the United States Steel Corporation again in 2001 when the shareholders of USX spun off the steelmaking assets of the company after its acquisition of Marathon Oil, was once the largest steel producer and largest... Unilever is a widely listed [2] [3] multi-national corporation, formed of Anglo-Dutch parentage, that owns many of the worlds consumer product brands in foods, beverages, cleaning agents and personal care products. ...


Monopoly charges, anti-trust litigation and breakup

By 1890, Standard Oil controlled 88% of the refined oil flows in the United States. The state of Ohio successfully sued Standard, compelling the dissolution of the trust in 1892. But Standard only separated off Standard Oil of Ohio and kept control of it. Eventually, the state of New Jersey changed its incorporation laws to allow a company to hold shares in other companies in any state. So, in 1899, the Standard Oil Trust, based at 26 Broadway in New York, was legally reborn as a holding company, the Standard Oil Company of New Jersey (SOCNJ), which held stock in 41 other companies, which controlled other companies, which in turn controlled yet other companies. This conglomerate was seen by the public as all-pervasive, controlled by a select group of directors, and completely unaccountable.[5] Official language(s) English de facto Capital Columbus Largest city Columbus Largest metro area Greater Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... This article is about the U.S. state. ... For the band, see Big Brother and the Holding Company. ...


In 1904, Standard controlled 91% of production and 85% of final sales. Most of its output was kerosene, of which 55% was exported around the world. Standard's plants were about as cost efficient as competitors'. After 1900 it did not try to force competitors out of business by underpricing them.[6] The federal Commissioner of Corporations concluded that beyond question, Standard's dominant position in the refining industry was due "to unfair practices, to abuse of the control of pipe-lines, to railroad discriminations, and to unfair methods of competition."[7] Standard's market share fell gradually to 64% by 1911. It did not try to monopolize the exploration and pumping of oil (its share in 1911 was 11%). Kerosene or kerosine, also called paraffin oil or paraffin in British usage (not to be confused with the waxy solid also called paraffin wax or just paraffin) is a flammable hydrocarbon liquid. ...


In 1909, the US Department of Justice sued Standard under federal anti-trust law, the Sherman Antitrust Act of 1890, for sustaining a monopoly and restraining interstate commerce by: [8] The United States Department of Justice (DOJ) is a Cabinet department in the United States government designed to enforce the law and defend the interests of the United States according to the law and to ensure fair and impartial administration of justice for all Americans. ... John Sherman The Sherman Antitrust Act (Sherman Act[1], July 2, 1890, ch. ...

"Rebates, preferences, and other discriminatory practices in favor of the combination by railroad companies; restraint and monopolization by control of pipe lines, and unfair practices against competing pipe lines; contracts with competitors in restraint of trade; unfair methods of competition, such as local price cutting at the points where necessary to suppress competition; [and] espionage of the business of competitors, the operation of bogus independent companies, and payment of rebates on oil, with the like intent."

The lawsuit argued that Standard's monopolistic practices took place in the last four years: [9]

"The general result of the investigation has been to disclose the existence of numerous and flagrant discriminations by the railroads in behalf of the Standard Oil Company and its affiliated corporations. With comparatively few exceptions, mainly of other large concerns in California, the Standard has been the sole beneficiary of such discriminations. In almost every section of the country that company has been found to enjoy some unfair advantages over its competitors, and some of these discriminations affect enormous areas."

The government identified four illegal patterns: 1) secret and semi-secret railroad rates; (2) discriminations in the open arrangement of rates; (3) discriminations in classification and rules of shipment; (4) discriminations in the treatment of private tank cars. The government alleged:[10]

"Almost everywhere the rates from the shipping points used exclusively, or almost exclusively, by the Standard are relatively lower than the rates from the shipping points of its competitors. Rates have been made low to let the Standard into markets, or they have been made high to keep its competitors out of markets. Trifling differences in distances are made an excuse for large differences in rates favorable to the Standard Oil Company, while large differences in distances are ignored where they are against the Standard. Sometimes connecting roads prorate on oil—that is, make through rates which are lower than the combination of local rates; sometimes they refuse to prorate; but in either case the result of their policy is to favor the Standard Oil Company. Different methods are used in different places and under different conditions, but the net result is that from Maine to California the general arrangement of open rates on petroleum oil is such as to give the Standard an unreasonable advantage over its competitors

The government said that Standard raised prices to its monopolistic customers but lowered them to hurt competitors, often disguising its illegal actions by using bogus supposedly independent companies it controlled. [11]

"The evidence is, in fact, absolutely conclusive that the Standard Oil Company charges altogether excessive prices where it meets no competition, and particularly where there is little likelihood of competitors entering the field, and that, on the other hand, where competition is active, it frequently cuts prices to a point which leaves even the Standard little or no profit, and which more often leaves no profit to the competitor, whose costs are ordinarily somewhat higher."


On May 15, 1911, the US Supreme Court upheld the lower court judgment and declared the Standard Oil group to be an "unreasonable" monopoly under the Sherman Antitrust Act. It ordered Standard to break up into 34 independent companies with different boards of directors.[12] The Supreme Court Building, Washington, D.C. The Supreme Court Building, Washington, D.C., (large image) The Supreme Court of the United States, located in Washington, D.C., is the highest court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States... This article is about the economic term. ... John Sherman The Sherman Antitrust Act (Sherman Act[1], July 2, 1890, ch. ...


Standard's president, John Rockefeller, had long since retired from any management role. But, as he owned a quarter of the shares of the resultant companies, and those share values mostly doubled, he emerged from the dissolution as the richest man in the world.[13]


Legacy

Whether the existence of Standard Oil was beneficial is a matter of some controversy.[14] Some economists argue that Standard Oil was not a monopoly, citing its much reduced market presence by the time of the antitrust trial. In 1890, Rep. William Mason, arguing in favor of the Sherman Antitrust Act, said: "trusts have made products cheaper, have reduced prices; but if the price of oil, for instance, were reduced to one cent a barrel, it would not right the wrong done to people of this country by the trusts which have destroyed legitimate competition and driven honest men from legitimate business enterprise".[15]


The Sherman Act prohibits the restraint of trade. Defenders of Standard Oil insist that the company did not restrain trade, they were simply superior competitors. The federal courts ruled otherwise. The Sherman Antitrust Act was the first government action to limit trusts (A combination of firms or corporations who agree not to lower prices below a certain rate for the purpose of reducing competition and controlling prices throughout a business or an industry). ...


Many analysts agree that the breakup was beneficial to consumers in the long run, and no one has ever proposed that Standard Oil be reassembled in pre-1911 form.[16]


Successor companies

The successor companies from Standard Oil's breakup form the core (or Seven Sisters) of today's US oil industry. They include: This article or section does not cite its references or sources. ...

Other Standard Oil spin-offs: Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... This article is about the trade name. ... This article is about the fuel brand. ... For other uses, see Exon (disambiguation). ... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... Mobil gas station in the Loisaida section of the East Village of New York City Mobil was a major American oil company which merged with Exxon in 1999 to form ExxonMobil. ... For other uses, see Exon (disambiguation). ... Chevron was founded after an 1879 oil discovery in Pico Canyon, near the Santa Susana Mountains north of Los Angeles, California as the Pacific Coast Oil Co. ... Chevron Corporation (NYSE: CVX) is one of the worlds largest global energy companies. ... ChevronTexaco Corporation ( NYSE: CVX) is one of the worlds largest global energy companies. ... Amoco was a United States oil company formed from the dissolution of Standard Oil. ... Amoco was a United States oil company formed from the dissolution of Standard Oil. ... The American Oil Company, or Amoco, was a global chemical and oil company, founded in Baltimore in 1910 and incorporated in 1922 by Louis Blaustein and his son Jacob, but now part of BP. The firms early innovations include the gasoline tanker truck and the drive-through filling station. ... This article is about the energy corporation. ... Atlantic Petroleum was an oil company in the Eastern United States headquartered in Philadelphia, and a direct descendant of the Standard Oil Trust. ... Richfield is the name of several places in the United States of America: Richfield Township, Michigan Richfield, Minnesota Richfield, North Carolina Richfield, Ohio Richfield, Wisconsin Richfield, Utah Richfield was also a former brand name of automobile gasoline service stations in the western United States. ... An ARCO gas station in Los Angeles ARCO (an acronym for Atlantic Richfield Company) is an American oil company that was formed by the merger of East Coast-based Atlantic Refining and California-based Richfield Petroleum in 1966. ... This article is about the energy corporation. ... This article is about the American oil company. ... The Standard Oil Company of Kentucky or Kyso was an oil company and gasoline distributor that operated in the southeastern United States from 1886 until it was acquired by Chevron Oil Company in 1960. ... The Standard Oil Company of Kentucky or Kyso was an oil company and gasoline distributor that operated in the southeastern United States from 1886 until it was acquired by Chevron Oil Company in 1960. ... Chevron was founded after an 1879 oil discovery in Pico Canyon, near the Santa Susana Mountains north of Los Angeles, California as the Pacific Coast Oil Co. ... Chevron Corporation (NYSE: CVX) is one of the worlds largest global energy companies. ... ConocoPhillips (NYSE: COP) was founded by the merger of the Conoco Inc. ... Categories: Companies traded on NYSE | Corporation stubs | Oil companies of the United States | Fortune 500 companies | Companies based in Texas ... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas. ... Standard Oil of Ohio or Sohio was an American oil company that was acquired by British Petroleum, now part of BP. It was one of the successor companies to Standard Oil after the antitrust breakup in 1911. ... Standard Oil of Ohio or Sohio was an American oil company that was acquired by British Petroleum, now part of BP. It was one of the successor companies to Standard Oil after the antitrust breakup in 1911. ... This article is about the energy corporation. ... Marathon Oil Corporation NYSE: MRO, based in Houston, Texas, is a worldwide oil and natural gas exploration and production company. ... Marathon Oil Corporation (NYSE: MRO), based in Houston, Texas, is a worldwide oil and natural gas exploration and production company. ...

  • Standard Oil of Iowa - pre-1911 - became Standard Oil of California.
  • Standard Oil of Minnesota - pre-1911 - bought by Standard Oil of Indiana.
  • Standard Oil of Illinois - pre-1911 - bought by Standard Oil of Indiana.
  • Standard Oil of Kansas - refining only, eventually bought by Indiana Standard.
  • Standard Oil of Missouri - pre-1911 - dissolved.
  • Standard Oil of Louisiana - always owned by Standard Oil of New Jersey (now Exxon).
  • Standard Oil of Brazil - always owned by Standard Oil of New Jersey (now Exxon).
  • Standard Oil of Colorado - a scam to cash in on the Standard Oil brand in the 1930s.
  • Standard Oil of Connecticut - a fuel oil marketer in Connecticut not related to the Rockefeller companies.

Other companies divested in the 1911 breakup: Standard Oil Company of Iowa was created in 1885 as a subsidiary of the Standard Oil Trust to handle marketing along the Pacific Coast states of Idaho, Oregon, Washington, California, and Arizona. ... Standard Oil of Louisiana was originally founded by John D Rockefeller as Standard Oil. ... Standard Oil of Colorado was chartered in Denver in 1922. ... The 1930s (years from 1930–1939) were described as an abrupt shift to more radical and conservative lifestyles, as countries were struggling to find a solution to the Great Depression, also known as the World Depression. ...

  • Anglo-American Oil Co. - acquired by Jersey Standard in 1930, now Esso UK.
  • Buckeye Pipeline Co.
  • Borne-Scrymser Co. (chemicals)
  • Chesebrough Manufacturing (Vaseline)
  • Colonial Oil.
  • Crescent Pipeline Co.
  • Cumberland Pipe Line Co.
  • Eureka Pipe Line Co.
  • Galena-Signal Oil Co.
  • Indiana Pipe Line Co.
  • National Transit Co.
  • New York Transit Co.
  • Northern Pipe Line Co.
  • Prairie Oil & Gas.
  • Solar Refining.
  • Southern Pipe Line Co.
  • South Penn Oil Co. - eventually became Pennzoil, now part of Shell.
  • Southwest Pennsylvania Pipe Line Co.
  • Swan and Finch.
  • Union Tank Lines.
  • Washington Oil Co.
  • Waters-Pierce.

Petroleum jelly or petrolatum is a byproduct of the refining of petroleum, made from the residue of petroleum distillation left in the still after all the oil has been vaporized. ... Pennzoils current version of their logo. ... Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. ...

Notes

  1. ^ a b One of the world's first and biggest multinationals - see Daniel Yergin, The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster, 1991, (p.35).
  2. ^ Hidy, Ralph W. and Muriel E. Hidy. Pioneering in Big Business, 1882-1911: History of Standard Oil Company (New Jersey) (1955).
  3. ^ Standard Oil controlled by a small group of families - see Ron Chernow, Titan: The Life of John D. Rockefeller, Sr., London: Warner Books, 1998, (p.291)
  4. ^ Jones, Eliot. The Trust Problem in the United States pp. 89-90 (1922) (hereinafter Jones).
  5. ^ Standard Oil of New Jersey seen as all-pervasive and unaccountable, holding stock in a myriad of other companies - see Yergin, op. cit., (pp.96-98)
  6. ^ Jones pp 58-59, 64.
  7. ^ Jones. pp. 65-66.
  8. ^ Manns, Leslie D., "Dominance in the Oil Industry: Standard Oil from 1865 to 1911" in David I. Rosenbaum ed., Market Dominance: How Firms Gain, Hold, or Lose it and the Impact on Economic Performance, p. 11 (Praeger 1998).
  9. ^ Jones, p. 73.
  10. ^ Jones, p 75-76.
  11. ^ Jones, p. 80.
  12. ^ See generally Standard Oil Co. of New Jersey v. United States, 221 U.S. 1 (1911).
  13. ^ Rockefeller the richest man after the dissolution of 1911 - see Yergin, op. cit., (p.113)
  14. ^ see [1] [2]
  15. ^ Congressional Record, 51st Congress, 1st session, House, June 20, 1890, p. 4100.
  16. ^ David I. Rosenbaum, Market Dominance: How Firms Gain, Hold, or Lose it and the Impact on Economic Performance, New York: Praeger Publishers, 1998, (pp.31-33)

See also

John Davison Rockefeller, Sr. ... William Rockefeller (May 31, 1841-June 24, 1922), American financier, was a cofounder of the prominent United States Rockefeller family. ... The Rockefeller family, the family of John D. Rockefeller (1839-1937) (Senior) and his brother William Rockefeller (1841-1922), is an American industrial, banking, philanthropic, and political family of German American origin that made the worlds largest private fortune in the oil business during the late 19th and early... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... John Dustin Archbold (1848-1916) was an American capitalist and one of the United States earliest oil refiners. ... Henry Huttleston Rogers (January 29, 1840 – May 19, 1909) was a United States capitalist, businessman, industrialist, financier, and philanthropist. ... Charles Pratt Charles Pratt (2 October, 1830 - 4 May, 1891) was a United States capitalist, businessman and philanthropist. ... Charles Pratt and Company was formed in Brooklyn, New York in the United States by Charles Pratt and Henry H. Rogers in 1867. ... Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was a United States tycoon, real estate promoter, railroad developer and Rockefeller partner. ... Ida M. Tarbell, 1904 Ida Minerva Tarbell (November 5, 1857–January 6, 1944) was a teacher, an author and journalist. ... Media:Example. ... This article is about the economic term. ... Wamsutta Oil Refinery was established around 1861 in McClintocksville in Venango County near Oil City, Pennsylvania in the United States. ... The Standard Oil Gasoline Station, in Odell, Illinois lies along historic U.S. Route 66. ... Holding The Standard Oil Compant was deemed an illegal trust under the Sherman Act, and was split into many smaller companies. ... // Era Overview At the end of the Civil War, the United States was still bitterly divided. ...

Bibliography

  • Bringhurst, Bruce. Antitrust and the Oil Monopoly: The Standard Oil Cases, 1890-1911. New York: Greenwood Press, 1979.
  • Chernow, Ron. Titan: The Life of John D. Rockefeller, Sr. London: Warner Books, 1998.
  • Droz, R.V. Whatever Happened to Standard Oil?, 2004. Retrieved June 25, 2005.
  • Folsom, Jr., Burton W. John D. Rockefeller and the Oil Industry from The Myth of the Robber Barons. New York: Young America, 2003.
  • Giddens, Paul H. Standard Oil Company (Companies and men). New York: Ayer Co. Publishing, 1976.
  • Henderson, Wayne. Standard Oil: The First 125 Years. New York: Motorbooks International, 1996.
  • Hidy, Ralph W. and Muriel E. Hidy. History of Standard Oil Company (New Jersey : Pioneering in Big Business 1882-1911). New York: Ayer Co. Publishing, 1987.
  • Jones; Eliot. The Trust Problem in the United States 1922. Chapter 5; online edition
  • Klein, Henry H. Dynastic America and Those Who Own It. New York: Kessinger Publishing, [1921] Reprint, 2003.
  • Knowlton, Evelyn H. and George S. Gibb. History of Standard Oil Company: Resurgent Years 1911-1927. New York: Harper & Row, 1956.
  • Larson, Henrietta M., Evelyn H. Knowlton and Charles S. Popple. New Horizons 1927 - 1950 (History of Standard Oil Company (New Jersey), Volume 3). New York: Harper & Row, 1971.
  • Latham, Earl ed. John D. Rockefeller: Robber Baron or Industrial Statesman?, 1949. Primary and secondary sources.
  • Manns, Leslie D. "Dominance in the Oil Industry: Standard Oil from 1865 to 1911" in David I. Rosenbaum ed, Market Dominance: How Firms Gain, Hold, or Lose it and the Impact on Economic Performance. Praeger, 1998. online edition
  • Montague, Gilbert Holland. The Rise And Progress of the Standard Oil Company. New York: Kessinger Publishing, [1902] Reprint, 2005.
  • Nevins, Allan. John D. Rockefeller: The Heroic Age of American Enterprise. 2 vols. New York: Charles Scribner's Sons, 1940.
  • Nevins, Allan. Study In Power: John D. Rockefeller, Industrialist and Philanthropist. 2 vols. New York: Charles Scribner's Sons, 1953.
  • Nowell, Gregory P. (1994). Mercantile States and the World Oil Cartel, 1900-1939.. Cornell University Press. 
  • Standard Oil Company of California. Whatever happened to Standard Oil?, 1980. Retrieved June 25, 2005.
  • Tarbell, Ida M. The History of the Standard Oil Company, 1904. The famous original expose in McClure's Magazine of Standard Oil.
  • Wall, Bennett H. Growth in a Changing Environment: A History of Standard Oil Company (New Jersey), Exxon Corporation, 1950-1975. New York: Harpercollins, 1989.
  • Williamson, Harold F. and Arnold R. Daum. The American Petroleum Industry: The Age of Illumination, 1859-1899, 1959: vol 2, American Petroleum Industry: the Age of Energy 1899-1959, 1964. The standard history of the oil industry. online edition of vol 1
  • Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster, 1991.

is the 176th day of the year (177th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Joseph Allan Nevins (May 20, 1890 - March 5, 1971) was an educator, historian, and author and journalist. ... is the 176th day of the year (177th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... McClures or McClures Magazine was a popular United States illustrated monthly magazine at the turn of the 20th century, often compared to the longer-running The Atlantic Monthly. ... Daniel H. Yergin (born February 6, 1947) is an American author and economic researcher. ... The Prize (1991; ISBN 0671502484) is Daniel Yergins 800-page history of the global oil industry from the 1850s through 1990. ...

External links


  Results from FactBites:
 
A History of the Standard Oil Company (2188 words)
Republic Oil was dissolved and its assets sold to Indiana Standard, Ohio Standard, and Waters-Pierce.
Standard Oil of Colorado was chartered in Denver in 1922, the unused charter was recinded in 1926.
Esso Standard Oil (Jersey Standard) didn't care to have motorists confused, considering it was operating Esso stations in the state at the time and spending significant funds on advertising.
Kykuit, the Rockefeller Estate / Historic Hudson Valley (1562 words)
By 1870, when Rockefeller and his partners incorporated themselves as the Standard Oil Company, their refinery was producing more that fifteen hundred barrels of kerosene a day, destined for street and indoor lamps all over the country.
At the end of the decade, Standard Oil had bought out or merged with twenty-two of its twenty-five Cleveland competitors, and it produced 33 million of the 36 million barrels of oil produced in the United States.
By the time JDR moved to New York City in 1884, Standard Oil was well on its way to becoming one of the largest corporations of its day, and he was soon to become one of the wealthiest men in the world.
  More results at FactBites »

 
 

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