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oil companies has been around for at least one hundred years before John Rockefeller established the Standard Oil Trust Company. Just like any new business founded, Rockefeller thought it was a new investement with the steel company becoming one of the dominant industry in the world, due to railroads, train, and new ships being created. They required oil to function. John Rockefeller, established the Trust, a type of monopoly (illegal today in the US) with the idea to make more money. Much more than what he realized.
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Which of these companies has NOT been forced to split up by the federal government Microsoft AT and T American Tobacco Company Standard Oil Trust?
Microsoft.
Chevron used to be know as Standard Oil of which state?
California
What is Trust-busting?
Trustbusting is the act of taking a conglomeration of companies to court and trying to prove that they are inhibiting free trade. If found guilty the conglomerate would then be broken up into smaller companies, thus preventing a monopoly.
Who made a fortune in the oil business?
John D. Rockefeller is famous for having made a fortune in the oil business. He co-founded the Standard Oil Company in 1870.
How did a trust allow John D Rockefeller to create a monopoly over the American oil industry?
Yes.
