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Standard Oil
Standard Oil Company, Inc., was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911. At its height, Standard Oil was the largest petroleum company in the world, and its success made its co-founder and chairman, John D. Rockefeller, who is among the wealthiest Americans of all time and among the richest people in modern history. Its history as one of the world's first and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled that it was an illegal monopoly. The company was founded in 1863 by Rockefeller and Henry Flagler, and was incorporated in 1870. Standard Oil dominated the oil products market initially through horizontal integration in the refining sector, then, in later years vertical integration; the company was an innovator in the development of the business trust. The Standard Oil trust streamlined production and logistics, lowered costs, and undercut competitors. "Trust-busting" cri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Successors Of Standard Oil
Following the Standard Oil Co. of New Jersey v. United States, 1911 Supreme Court ruling that found Standard Oil was an Competition law#United States antitrust, illegal monopoly, the company was broken up into 43 different entities, divided primarily by region and activity. Many of these companies later became part of the Seven Sisters (oil companies), Seven Sisters, which dominated global petroleum production in the 20th century, and became a majority of today's largest investor-owned oil companies, with most tracing their roots back to Standard Oil. Some descendants of Standard Oil were also given exclusive rights to the Standard Oil name. Today, many of Standard Oil's 43 successor entities play roles in the oil industry, either on their own or through being acquired by other companies. Standard Oil of New Jersey, the controlling division of Standard Oil at the time of the 1911 breakup, continues to exist as ExxonMobil, formed from the merger of it and Standard Oil of New York. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
