Historical introduction

Standard Oil Company, Inc.was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911. At its height, Standard Oil was the largest petroleum company in the world, and its success made its co-founder and chairman, John D. Rockefeller, among the wealthiest Americans of all time and among the richest people in modern history. Its history as one of the world’s first and largest multinational corporations ended in 1911 when the U.S. Supreme Court ruled that it was an illegal monopoly.

By 1911 the Supreme Court of the United States ruled, in Standard Oil Co. of New Jersey v. United States, that Standard Oil of New Jersey must be dissolved under the Sherman Antitrust Act and split into 43 companies. Several of these companies were considered among the Seven Sisters who dominated the industry worldwide for much of the 20th century, and both Standard Oil’s direct and indirect descendants make up Big Oil.

Two of these companies were Standard Oil of New Jersey (Jersey Standard or Esso), which eventually became Exxon, and Standard Oil of New York (Socony), which eventually became Mobil; those two companies later merged into ExxonMobil. Further BP is a continuation of the Anglo-Persian Oil Company which acquired Standard Oil of Ohio and Standard Oil of Indiana, Marathon Oil and Marathon Petroleum, continuations of The Ohio Oil Company, ConocoPhillips and Phillips 66, continuations of the Continental Oil Company.

Read Full Article

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.