USA HISTORY

Detailed explanation-1: -The man primarily responsible for creating this near-monopoly, and who dominated the oil industry as Carnegie stood foremost in steel, was John D. Rockefeller (1839-1937).

Detailed explanation-2: -John D. Rockefeller (1839-1937), founder of the Standard Oil Company, became one of the world’s wealthiest men and a major philanthropist.

Detailed explanation-3: -Billionaire John D. Rockefeller (July 8, 1839 to May 23, 1937) continues to rank as one of the richest men in modern times. He rose from modest beginnings to become the founder of Standard Oil in 1870 and ruthlessly set about destroying his competitors to create a monopoly of the oil industry.

Detailed explanation-4: -Rockefeller consolidated small oil refineries in the Cleveland area to form the Standard Oil Company in 1870. The Gilded Age began in 1877, following the conclusion of Reconstruction. It continued until the mid-1890s, with many historians contending that the era ended with the Panic of 1893.