Treaty of Titusville signed with oil producers
Citations (1)
- Titan: The Life of John D. Rockefeller, Sr. whole source · open book
ology—that he was trying to drive drillers to the wall to keep prices low. In reality, he was fully prepared to deal with a strong producers’ cartel so long as they capped production. On December 19, 1872, Rockefeller met with producers at the Fifth Avenue Hotel in New York and signed the so-called Treaty of Titusville. Under this agreement, the refiners’ association pledged to buy oil from the produc
chapter: CHAPTER 9 - The New Monarch