Standard Oil Company

- Rockefeller and his and his associates started the standard oil company which quickly became successful thanks to economic/industry conditions and Rockefeller’s drive to streamline the company’s operations and keep margins high..

- The new company quickly gained control of most of the refineries in the Cleveland area within the two years.

- Standard Oil used its size and ubiquity to make favorable deals with railroads to ship its oil.

- At the same time, Standard purchased pipelines, terminals and set up a system of transport for its own products.

- Taking full control of the business with a firm grip, Standard expanded further and bought thousands of acres of forest for lumber and drilling.

- Soon Standard's business footprint became an ambitions industry player both coast-to-coast in the U.S. and abroad.

In 1870, it was refining fifteen hundred barrels per day—a huge amount for the time. By January 1871, it had achieved a 10 percent market share, making it the largest player in the industry. By 1873, it had one-third of the market share, was refining ten thousand barrels a day