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Monopoly: The Standard Oil Company

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Monopoly: The Standard Oil Company
Monopoly is the possession or control of the supply in a service. The government made monopoly illegal because they started to hurt the companies by charging way too much for products which caused companies to lose money and run out of business. Then they made monopoly illegal in the 1980’s was passed as the Sherman Antitrust Act. The standard oil company was established in 1870 by John D. Rockefeller as a corporation in Ohio. The company's origin date was in 1863 when Rockefeller join Maurice B. Clarks Cleveland, Ohio oil company. By 1880, Through elimination of competitors, merges with with other companies and use of railroad rebates, they controlled the refining of 90 to 95 percent of all oil produce in the United States. Work industries
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