The Standards Of The Standard Oil Company - 2444 Words

In the 1870’s through the 1900’s, the Standard Oil Company (SOC) has been the largest company in one of the most rich industries in the world. The Standard Oil Company held a monopoly over the entire industry, which meant that their wide variety of products must have been essential to many types of people and industries. The SOC’s ability to spread awareness of their company and their products is a main reason why they became so powerful. The Standard Oil Company would not be nearly as successful as it was if not for its widespread consumer base, the company became one of the largest in history. This success lead it’s CEO and founder, John D. Rockefeller, to become one of the most rich people to ever live; he also gave away an extremely large portion of his wealth and make the world a better place. Another way that the company s massive amount of various customers allowed them to succeed is because oil has numerous uses and their products appealed to a wid e variety of people. This fact is important because oil’s many different uses made it extremely appealing and marketable to numerous and various audiences, thus allowing the company that controlled the industry to skyrocket and create a monopoly. A monopoly had never really been done before in history and with the huge amount of wealth it created for certain individuals, the wealthy were able to change the world. Oil also led the world to many technological advancements and because of the current decrease in the world’sShow MoreRelatedThe Standard Oil Company Essay1010 Words   |  5 PagesThe 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. 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