https://padlet.com/0203surya/fw30rum17pq4 Was he a Robber Baron? en-us 2017-12-21 22:21:19 UTC 2025-11-17 11:33:36 UTC hello@padlet.com 0203surya https://padlet.com/0203surya/fw30rum17pq4/wish/217795715 In 1839, John D. Rockefeller was born into modest circumstances in upstate New York. The son of a traveling salesman, as a young boy he used to sell turkeys and candy. Barely in this twenties, he invested in one of the first oil refineries built in America. He went on to create the Standard Oil Company and become the richest man in the world. Later in his life, he would donate vast sums of money to various causes. ]]> 2017-12-21 22:23:09 UTC https://padlet.com/0203surya/fw30rum17pq4/wish/217795715 0203surya https://padlet.com/0203surya/fw30rum17pq4/wish/217797051 The first oil well was drilled in 1859 in Pennsylvania. The oil industry grew rapidly from then on due to the discovery that crude oil yielded kerosene, a much better illuminant than the then-popular whale oil. Other by-products of distilling crude oil, such as paraffin, could be used for other purposes. Overhead costs to drill for oil were low, so the oil industry, still in its infancy, grew rapidly. ]]> 2017-12-21 22:51:47 UTC https://padlet.com/0203surya/fw30rum17pq4/wish/217797051 0203surya https://padlet.com/0203surya/fw30rum17pq4/wish/217797081 http://www.history.com/topics/john-d-rockefeller
United States History, Preparing for the Advanced Placement Examination, AMSCO School Publications, 1, Perfection Learning
https://fee.org/articles/john-d-rockefeller-and-the-oil-industry/]]> 2017-12-21 22:52:41 UTC https://padlet.com/0203surya/fw30rum17pq4/wish/217797081 0203surya https://padlet.com/0203surya/fw30rum17pq4/wish/217797108 Rockefeller contributed to various causes. He funded the establishment of the University of Chicago. Also, he helped fund scientist who found cures for various diseases, such as yellow fever. The Rockefeller Foundation, which funds efforts to improve humanity, is an enduring legacy of his philanthropic nature.]]> 2017-12-21 22:53:24 UTC https://padlet.com/0203surya/fw30rum17pq4/wish/217797108 0203surya https://padlet.com/0203surya/fw30rum17pq4/wish/217797116 Rockefeller bought a oil refinery in Cleveland, Ohio. Then, he formed the Standard Oil Company. Through horizontal integration, in which competitors were bought out by a single company, Standard Oil Trust went on to control 90% of the oil refinery business in 1881. His emphasis on efficiency enabled this company to sell cheap, quality oil. ]]> 2017-12-21 22:53:41 UTC https://padlet.com/0203surya/fw30rum17pq4/wish/217797116