jan 10, 1870 - Standard Oil Company Formation
Description:
Event: John D. Rockefeller and Henry Flagler established Standard Oil in Cleveland, Ohio, which later grew into a monopoly by controlling refining, transportation, and distribution.Impact: Standard Oil revolutionized the oil industry through horizontal integration, achieving a near-monopoly by controlling 90% of U.S. oil refining by 1880.
Added to timeline:
Date:
jan 10, 1870
Now
~ 155 years ago