jan 2, 1882 - Standard Oil Trust Formation
Description:
Event: John D. Rockefeller created the Standard Oil Trust to centralize control over the oil industry.Impact: Standard Oil controlled 90% of the U.S. oil refining market, setting prices and eliminating competitors through aggressive practices like predatory pricing and securing railroad rebates.
Added to timeline:
Date:
jan 2, 1882
Now
~ 143 years ago