Wednesday, January 10, 2007

Standard Oil 1870

Incorporated by John D. Rockefeller in 1870, Standard Oil used effective but widely criticized tactics, to absorb or destroy most of its competition.

State laws tried to limite the scale of all companies (probably insitituted in response to the Robber Barons, Rockefeller included), Rockefeller (and his partners) developed innovative ways of organizing to manage their increasing enterprise.


Denise Eagan said...

I don't quite understand the why oil wa such a big deal in the late 19th century. We didn't have many cars, after all. Was it for heat?

Anonymous said...

Yes, it was for heat. Also for running certain industries, I believe. Not 100% certain on that one. Anyone else know?