answersLogoWhite

0


Best Answer

The Standard Oil Company was established in 1870 and was the world's largest oil refinery. In 1911 the Supreme Court ruled that Standard Oil was an illegal monopoly at which time it was dissolved into 33 smaller companies making John Rockefeller the richest man in the world.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

10y ago

Standard Oil Company was established in 1870 and was the world's largest oil refinery. In 1911 the Supreme Court ruled that it was an illegal monopoly and Standard Oil was dissolved into 33 smaller companies making John D. Rockefeller the richest man in the world.

This answer is:
User Avatar

User Avatar

Wiki User

14y ago

It revolutionized the oil industry along with bringing the idea of using a monopoly.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What was the importance of the standard oil company?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What company did muckrakers Ida Tarbell write about?

standard oil


John D Rockefeller's oil company?

Standard Oil Company. Standard Oil Company.


Who wrote The History of the Standard Oil Company?

Ida Tarbell wrote The History of The Standard Oil Company


Who was the person responsible for creating standard oil company?

Who was the person responsible for creating standard oil company? Answer this question…


What company was exposed as a monopoly by Ida Tarbell?

standard oil


What companies did john d Rockefeller organize in 1870?

standard oil company of Ohio.


What company did muckraker Ida Tarbell white about?

Ida Tarbell wrote about the Standard Oil Company in her book, "The History of the Standard Oil Company," which exposed the company's business practices and monopolistic tendencies, contributing to the public outcry that led to the breakup of the company.


What did john Rockefeller transport on the railroad?

He transported standard oil from his Standard Oil Company.


What company is the descendent of standard oil company?

Exxon Mobile


Which company had a monopoly in the late 1800s?

Standard Oil Company


What is the ticker symbol for the old standard oil?

CVX. The old Standard Oil company is now Chevron!


What was the name of john d Rockefeller company?

John D Rockefeller was the founder of the standard Oil company. The Standard Oil Company formed by John and was in partnership with his brother William.