Tesla Integrated EV Company Mirrors Standard Oil Integrated Oil
- Apr 15, 2021 3:24 pm GMTApr 15, 2021 1:41 am GMT
- 351 views
Standard Oil and Rockefeller is known for the massive Monopoly they had in the early decades of the oil era. They were innovators in oil refining technology and reinforced their monopoly with technological innovation. Standard Oil started by creating an oil refining monopoly but then integrated and innovated backward through the oil supply chain. They created and perfected oil pipeline technology and obtained oil fields. In 1870, when Standard Oil was formed, the price of kerosene was $0.26 / gallon. By 1880, they had driven the price down to $0.09 / gallon. The price was further reduced to ~$0.07 per
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