In the late 1800s, what was the creation of the Standard Oil Trust by John D. Rockefeller intended to do?

1 Answer
Jan 13, 2016

Corner the market on oil production.


Rockefeller made no bones about desiring to be the largest owner of oil fields and the associated refineries. He was able to do it because there were no laws regarding monopolies. It definitely was not a trust however. A trust exists when a number of companies in a single industry agree between themselves of production, pricing, distribution and any other entity peculiar to their industry which would keep other competition out of the market.