Industrial Empires: Oil Industry; horizontal integration (apr 1, 1863 – may 1, 1881)

Description:

The oil industry was heavily dominated by John D. Rockefeller’s company as it eliminated most of its competition. By using horizontal integration, its former competitors were brought under a single corporate umbrella. By owning another company to control the supply and prices of oil products, Standard Oil’s profits added to Rockefeller’s fortune.

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