Oil Industry Development
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
(The trust’s share of American crude production peaked at 33 percent in 1898.) By narrowing the range of competition in oil production, the move hastened the day of political reckoning for Standard Oil. In future years, the discovery of new fields both at home and abroad provided openings for upstart competitors, but the trust’s swift, complete control of the Lima field gave it unchallenged control of American oil in the 1890s.
chapter: CHAPTER 16 - A Matter of Trust