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Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Before Standard Oil was broken up by the United States Supreme Court in 1911, they used to "post" the price they were willing to pay for crude oil. [2] Until 1895, crude oil was sold on the exchange at Oil City, Pennsylvania, but in January 1895 the Seep Purchasing Company, which purchased 80% of Pennsylvania and Ohio ' s crude oil production for Standard Oil, posted a notice that the price of ...
As such, The History of Standard Oil Company harbors great significance as a standard-bearer of modern investigative journalism. [3] In 1999 a jury under the aegis of the New York University's journalism department selected The History of the Standard Oil Company as the fifth best work of journalism in the United States in the 20th Century. [7]
Standard Oil also has the distinction of being the first billion-dollar company in history. By 1913, Rockefeller's personal fortune had swelled to $900 million — a staggering 3% of the entire U ...
The Standard Oil Company (Ohio) was an American petroleum company that existed from 1870 to 1987. The company, known commonly as Sohio , was founded by John D. Rockefeller . [ 4 ] [ 2 ] It was established as one of the separate entities created after the 1911 breakup.
Chart detailing the history of some of the largest Standard Oil descendants; bold denotes extant corporations Following the 1911 Supreme Court ruling that found Standard Oil was an illegal monopoly, the company was broken up into 39 different entities, divided primarily by region and activity.
In addition, the gasoline index increased 48.7% over the year, while the index for fuel oil more than doubled, rising a staggering 106.7% — the largest increase in the history of the series ...