What did the history of Standard Oil expose?
Her best-known work, The History of the Standard Oil Company (1904), exposed the questionable business practices of John D. Rockefeller’s Standard Oil Trust, which had been formed when Rockefeller combined all his corporations in an attempt to reduce competition and control prices in the oil industry.
Who wrote the history of Standard Oil and what did it expose?
Tarbell
Instantly popular with readers, “The History of the Standard Oil Company” grew to be a 19-part series, published between November 1902 and October 1904. Tarbell wrote a detailed exposé of Rockefeller’s unethical tactics, sympathetically portraying the plight of Pennsylvania’s independent oil workers.
What was the purpose of the History of Standard Oil Company?
The History of the Standard Oil Company, originally a serial that ran in McClure’s, is one of the most thorough accounts of the rise of a business monopoly and its use of unfair practices; her reporting contributed to the subsequent breakup of Standard Oil, which was found to be in violation of the Sherman Antitrust …
When was The History of the Standard Oil Company written?
1904
Ida M. Tarbell’s The History of the Standard Oil Company was first serialized in McClure’s Magazine starting in 1902 and then published as a best-selling book in 1904. Tarbell grew up around the Pennsylvania oil industry, where her father suffered from, and protested, John D.
Why did Ida Tarbell hate Rockefeller?
Tarbell actually objected to the term, for she felt it belittled work she believed to be of historical importance. One result largely attributable to Tarbell’s work was a Supreme Court decision in 1911 that found Standard Oil in violation of the Sherman Antitrust Act.
Did Ida Tarbell like Rockefeller?
Still a teenager, Ida Tarbell was deeply impressed by Rockefeller’s machinations. “There was born in me a hatred of privilege, privilege of any sort,” she later wrote. There, Tarbell wrote a long and well-received series on Napoleon Bonaparte, which led to an immensely popular 20-part series on Abraham Lincoln.
Who were Ida Tarbell’s friends?
In 1906 Tarbell joined with Lincoln Steffens, Ray Stannard Baker and William A. White to establish the radical American Magazine.
What were the 34 companies that Standard Oil was broken into?
Standard Oil
| Type | Cleveland, Ohio Corporation (1872) Business trust (1882–1892) New Jersey Holding Company (1899–1911) |
|---|---|
| Defunct | After its dissolution in 1911, the original Standard Oil Co. split into Sohio (now part of BP); ESSO (now Exxon); and SOcal (now Chevron) |
| Successor | 34 successor entities |
Was Standard Oil corrupt?
By the year 1904, Standard Oil had monopolized the entire oil production and distribution industry in the United States. This monopolization was the direct cause of John D. Rockefeller, the founder of the company, becoming the richest man in modern history and the richest American of all time.
What happened after Ida Tarbell exposed Standard Oil?
Tarbell brought the company’s shady dealings to light, and the federal government sued Standard Oil. The Supreme Court ordered Standard Oil’s breakup in 1911, but only after more narrowly defining illegal monopoly. Congress strengthened antitrust laws with the Federal Trade Commission Act and Clayton Antitrust Act.
What was wrong with the Standard Oil Company?
Rockefeller’s Standard Oil Company. One result largely attributable to Tarbell’s work was a Supreme Court decision in 1911 that found Standard Oil in violation of the Sherman Antitrust Act. The Court found that Standard was an illegal monopoly and ordered it broken into 34 separate companies.
Why is Ida Tarbell bad?
Tarbell was wrong on both counts. Standard Oil’s business practices were more ruthless than she had ever thought possible, and in her telling they became a page-turning tale of coercion, deception, and hubris. The key ingredient for Tarbell’s success came from her unprecedented access to primary source material.
Who was the founder of Standard Oil?
John D. Rockefeller founded the Standard Oil Company. was founded by John D. Rockefeller in 1863 in Ohio, United States. He was the first person who revolutionized the petroleum industry, and became one of the richest men in the world. John D. Rockefeller founded the Standard Oil Company.
What was the success of Standard Oil?
The astonishing success of Standard Oil encouraged others to follow the Rockefeller business model, particularly in the booming final decades of the 19th century. Trusts were established in close to 200 industries, although most never came close to Standard Oil in size or profitability.
Who owned the Standard Oil Company?
Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil, Chevron Corp., and BP. BP acquired its rights through acquiring Standard Oil of Ohio and Amoco , and has a small handful of stations in the Midwestern United States using the Standard name.
Does Standard Oil still exist?
Standard Oil Company and Trust does not still exist . It was dissolved in 1911. However, some companies that were part of the trust persisted and, over time, merged with others and became part of such well-known companies as Exxon Mobil Corporation , BP PLC , and Chevron Corporation .