How did John D. Rockefeller's Standard Oil Trust affect his competitors ?

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02-02-2021
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How did John D. Rockefeller's Standard Oil Trust affect his competitors ?

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cupcakegirll cupcakegirll · Answer 1 · 2021-02-02T23:26:03+01:00

Answer: How did John D. Rockefeller's Standard Oil Trust affect his competitors ?

In 1870, he established Standard Oil, which by the early 1880s controlled some 90 percent of U.S. refineries and pipelines. Critics accused Rockefeller of engaging in unethical practices, such as predatory pricing and colluding with railroads to eliminate his competitors in order to gain a monopoly in the industry.

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