What was the goal of the John d Rockefeller's standard oil trust?

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Zechariah Preston

History

27 March, 13:30

What was the goal of the John d Rockefeller's standard oil trust?

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Kendall · Answer 1

It could be said that by founding the Standard Oil Trust in 1882, Rockefeller created an oil monopoly in the oil industry. He bought many of his rival refineries and by doing so, he developed a large chain of marketing and distribution of the products not only in the United States, but around the world. This allowed him to control around 90% of the pipelines and refineries in the US.