Which statement best describes Standard Oil in the late 1800s?

Standard Oil controlled only a small number of the nation's oil refineries.

Standard Oil was a single business that operated in a small region.

Standard Oil controlled only the means and methods of oil production.

Standard Oil owned ninety percent of all oil refineries in the United States.

Question

History

Ty Mcmillan

1 October, 18:06

Which statement best describes Standard Oil in the late 1800s?

Standard Oil controlled only a small number of the nation's oil refineries.

Standard Oil was a single business that operated in a small region.

Standard Oil controlled only the means and methods of oil production.

Standard Oil owned ninety percent of all oil refineries in the United States.

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Answers (2)

Know the Answer?

Alan Sawyer · Answer 1

d. Standard Oil owned ninety percent of all oil refineries in the United States.

Explanation:

for anyone with edge. 2020

Anna Golden · Answer 2

Standard Oil owned ninety percent of all oil refineries in the United States.

Explanation:

The idea of Rockefeller materialized in 1882, creating the Standard Oil Trust, where companies would operate in a cooperative manner, centralizing all decisions in the main office of the Standard Oil of Ohio, which served as head of the group. This type of organization was so successful that other large companies also began to take the form of trust. In parallel, new state and federal antitrust laws would emerge to avoid such tactics. However, by then, Rockefeller was already the owner of the oil industry in the United States and for now nothing could change that situation.