The History of the Standard Oil CompanyTarbell, Ida M. (Ida Minerva)
History
The History of the Standard Oil Company
Tarbell, Ida M. (Ida Minerva)
Petroleum industry and trade -- United States -- History; Standard Oil Company -- History
when it was laid before him. It must have been evident to every business
man who came in contact with the young Standard Oil Company that it
would go far. The firm itself must have known it would go far. Indeed
nothing could have stopped the Standard Oil Company in 1870—the oil
business being what it was—but an entire change in the nature of the
members of the firm, and they were not the kind of material which
changes.
With such a set of associates, with his organisation complete from his
buyers on the creek to his exporting agent in New York, with the
transportation advantages which none of his competitors had had the
daring or the persuasive power to get, certainly Mr. Rockefeller should
have been satisfied in 1870. But Mr. Rockefeller was far from satisfied.
He was a brooding, cautious, secretive man, seeing all the possible
dangers as well as all the possible opportunities in things, and he
studied, as a player at chess, all the possible combinations which might
imperil his supremacy. These twenty-five Cleveland rivals of his—how
could he at once and forever put them out of the game? He and his
partners had somehow conceived a great idea—the advantages of
combination. What might they not do if they could buy out and absorb the
big refineries now competing with them in Cleveland? The possibilities
of the idea grew as they discussed it. Finally they began tentatively to
sound some of their rivals. But there were other rivals than these at
home. There were the creek refiners! They were there at the mouth of the
wells. What might not this geographical advantage do in time? Refining
was going on there on an increasing scale; the capacity of the Oil
Regions had indeed risen to nearly 10,000 barrels a day—equal to that of
New York, exceeding that of Pittsburg by nearly 4,000 barrels, and
almost equalling that of Cleveland. The men of the oil country loudly
declared that they meant to refine for the world. They boasted of an oil
kingdom which eventually should handle the entire business and compel
Cleveland and Pittsburg either to abandon their works or bring them to
the oil country. In this boastful ambition they were encouraged
particularly by the Pennsylvania Railroad, which naturally handled the
largest percentage of the oil. How long could the Standard Oil Company
stand against this competition?
Public-domain text, read in full here on John Shaqi.
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