WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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standard oil
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sub-par oil
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stark industries
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rockefeller university
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Detailed explanation-1: -In June 1870, John D. Rockefeller amalgamated a number of his companies to create what would become one of the world’s most powerful and influential organizations in Standard Oil. Standard Oil was a petroleum producing, refining, and transporting corporation based out of Cleveland, OH.
Detailed explanation-2: -Rockefeller is widely considered the wealthiest American in history, the country’s first billionaire. His fortune primarily came from his firm, Standard Oil Company, which grew to dominate the oil industry and become the first great American business trust.
Detailed explanation-3: -John D. Rockefeller formed the Standard Oil Company on January 10, 1870 with his business partners and brother. The success of this business empire made Rockefeller one of the world’s first billionaires and a celebrated philanthropist.
Detailed explanation-4: -Rockefeller made a fortune by turning oil into kerosene, a fuel that was used in lamps to light people’s homes. In a time before electric lighting, kerosene lamps were a huge improvement over candles and other forms of light that had been used earlier.