The 19th century was transformed by it.
The 20th century was shaped by it. And the 21st century is moving beyond it. But who gave birth to the oil industry? What have they done with the immense wealth and power that it has granted Thesis Supporting Standard Oil Trust And Business Plan Alberta are they planning to do with that power in a post-carbon world?
This is the remarkable true story of the oiligarchs and the world they have created. Please support the work. Purchase a 2-disc DVD copy of this documentary today. From farm to pharmaceutical, diesel truck to dinner plate, pipeline to plastic product, it is impossible to think of an area of our modern-day lives that is not affected by the petrochemical industry. The story of oil is the story of the modern world.
Parts of that story are well-known: Rockefeller and Standard Oil; the internal combustion engine and the transformation of global transport; the House of Saud and the oil wars in the Middle East.
Other parts are more obscure: But that story, properly told, begins somewhere unexpected. Not in Pennsylvania with the first commercial drilling operation and the first oil boom, but in the rural backwoods of early 19 th century New York State. He was neither source doctor nor a cancer specialist; his real name was not even Livingston. He abandoned his first wife and their six children to start a bigamous marriage in Canada at the same time as he fathered two more children by a third woman.
He once bragged of his parenting technique: A most unlikely man alights from a railway car into the midst Thesis Supporting Standard Oil Trust this sleepy Western Pennsylvania town on the shores of Oil Creek: Drake is actually an unemployed railroad conductor who talked himself into a job after staying at the same hotel as Bissell the year before. Calling him a Colonel, it is hoped, will help win the respect of the locals. Still, Drake has a task to complete: He tries everything he can think of.
The Native Americans had historically collected the oil by damming the creek near a seep and skimming the oil off the top. But Drake can only collect six to ten gallons of oil a day this way, even when he opens up extra seeps.
Rockefeller court speech from The Men Who Built America
He tries digging a shaft, but the groundwater floods in too quickly. They get to work drilling down through the shale bedrock to reach the oil. On August 28th, they strike oil. Then on Sunday, August 28th,oil bubbled up the drive pipe. Uncle Billy and his son Sam bailed out several buckets of oil. Here Monday, the very day that Colonel Drake received his final payment and an order to close down the operation, they hitched the walking beam to a water pump and the oil began to flow.
Years later a local newspaper interviewed Uncle Billy about the day they struck oil:. I says to Mr. What do you think of this? Overnight a whole new industry was click. Before long in millions of homes, farms and factories around the world, lamps would be lit with Thesis Supporting Standard Oil Trust refined from West Pennsylvania crude. When the word came out that Drake had struck oil, the cry went up throughout the narrow valleys of Western Pennsylvania: The crazy Yankee has struck oil!
It was like a gold rush. The Prize Part 1. Overnight, the quiet farming backwoods of rural Pennsylvania was transformed into a bustling oil region, with prospectors leasing up flats, towns springing up from nowhere, and a forest of percussion rigs covering the land.
The first oil boom had arrived. Already poised to make the most of this boom was a young up-and-coming bookkeeper in Cleveland with a head for numbers: He had two ambitions in life: And he read about the oil business just beginning and got interested, and came to realize it was a very volatile business at the time.
Inseeing the oil boom and sensing the profits to be made in the fledgling business, Rockefeller formed Thesis Supporting Standard Oil Trust partnership with fellow businessman Maurice B. Clark and Samuel Andrews, a chemist who had built an oil refinery but knew little about the business of getting his product to market. InThesis Supporting Standard Oil Trust shrewd John D.
Byafter five years of strategic partnerships and mergers, Rockefeller had incorporated Standard Oil. In a move that would transform the American economy, Rockefeller set out to replace a world of independent oilmen with a giant company controlled by him. Inbegging bankers for more loans, he formed Standard Oil of Ohio.
Rockefeller knew that the refiner with the lowest transportation cost could bring rivals to their knees. He entered into a secret alliance with the railroads called the South Improvement Company. In exchange for large, regular shipments, Rockefeller and his allies secured transport rates far lower than those of their bewildered competitors.
Ida Tarbell, the daughter of an oil man, later remembered how men like her father struggled to make sense of events: Bywhen Rockefeller is 40, he controls 90 percent of the oil refining in the world. Within a few years, he will control 90 percent of the marketing of oil and a third of all of the oil wells.
So this very young man controls what is not only a national but an international monopoly in a commodity that is about to become the most important strategic commodity in the world economy.
By the s, the American oil industry was the Standard Oil Company. And Standard Oil was John D. One such competitor emerged from the Caucasus in the s, where Imperial Russia had opened up the vast Caspian Sea oil deposits to private development. Two families quickly combined forces to take advantage of the opportunity: Inthe Rothschilds contracted with M. The project was immense; it involved not only sophisticated engineering to construct the first oil tankers to be approved by the Suez Canal Company, but the strictest secrecy.
If word of the endeavour was to get back to Rockefeller through his international intelligence network, it would risk bringing the wrath Thesis Supporting Standard Oil Trust Standard Oil, which could afford to cut Thesis Supporting Standard Oil Trust and squeeze them out of the market.
In the end they succeeded, and the first bulk tanker, the Murexsailed through the Suez Canal in en route to Thailand. The two companies, fearing competition from Standard Oil, merged in into the Asiatic Petroleum Company, jointly owned with the French Rothschilds, and in become Royal Dutch Shell.
Another global competitor to the Standard Oil throne emerged in Iran at the turn of the 20th century. In early May of they sent a telegram to their geologist telling him to dismiss his staff, dismantle his equipment and come back home. He defied the order and weeks later struck oil. The Rothschilds and Nobels.
Two children miraculously survived by what police described as "the providence of God". I have three children and have lost two of them today - my whole family has been wiped out.
But the truth is we want one news portal, without bias, and today Apple delivered it.
The Dutch royal family. These early titans of the oil industry and their corporate shells pioneered a new model for amassing and expanding fortunes hitherto unheard of. They were the scions of a new oligarchy, one built around oil and its control, from wellhead to pump. But it was not just about money.
Theses and Dissertations Available from ProQuest. Full text is available to Purdue University faculty, staff, and students on campus through this site. Oil. The 19th century was transformed by it. The 20th century was shaped by it. And the 21st century is moving beyond it. But who gave birth to the oil industry? Read time: 20 minutes The Rosemary Oil, Minoxidil, Hair Loss “Breakthrough” Study In , a team of Iranian researchers made headlines after publishing a study. We provide excellent essay writing service 24/7. Enjoy proficient essay writing and custom writing services provided by professional academic writers. Theses and Dissertations topics related to Supply Chain Management, Procurement Management, Inventory Management, and Distribution Management.
The monopolization of this, the key energy resource of the 20th century, helped secure the oiligarchs not just wealth but power over the lives of billions. Billions who came to depend on black gold for the provision of just about every aspect of their daily lives. In the late 19th century, however, it was by no means certain that oil would become the key resource of the 20th century. As cheap illumination Thesis Supporting Standard Oil Trust the newly-commercialized light bulb began to destroy the market for lamp oil, the oiligarchs were on the verge of losing the value from their monopoly.
The very next year after the commercial introduction of the light bulb, another invention came along to save the oil industry: German engineer Karl Benz patented a reliable, two-stroke internal combustion engine. The engine ran on gasoline, another petroleum byproduct, and became the basis for the Benz Motorwagen that, inbecame the first commercially available automobile in history.
And with that stroke of luck, the business that Rockefeller and the other oiligarchs had spent decades consolidating was saved. But more luck was needed to ensure the market for this new engine. In the early days of the automobile era it was by no means certain that gas-powered cars would come to dominate the market. Working models of electric vehicles had been around Thesis Supporting Standard Oil Trust the s, and the first electric car was built in By there was a fleet of all-electric taxis shuttling passengers around London.
The world land speed record was set by an electric car read more The electrics had advantages over the internal combustion engine: Lady Luck intervened again on January 10,when prospectors struck oil at Spindletop in East Texas. The gusher blewbarrels a day and set off Thesis Supporting Standard Oil Trust next great oil boom, providing cheap, plentiful oil to the American market and driving down gas prices.
Rockefeller had come under increasing scrutiny by a public outraged by the unprecedented wealth he had amassed through Standard Oil. Muckraking reporters like Ida Tarbell began digging up the dirt on his rise to power through railroad conspiracies, secret deals with competitors and other shady practices.
The press pictured him as a colossus with bribed politicians literally in the palm of his hand; Standard Oil was a menacing octopus with its tentacles strangling the lifeblood of the nation. Hearings began, investigations were launched, lawsuits were brought against him. And then, finally, in the Supreme Court made a monumental decision. On May 15th,the Supreme Court of the United States declared that Standard Oil was a monopoly in restraint of trade and should be dissolved.
Rockefeller heard of the decision while golfing at Kykuit with a priest from the local Catholic church, Father J.