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J D the ROCK
(sometimes referred to
as John D Rockefeller)
Had a poor upbringing
Started first job at age 16 as
a bookkeeper and worked his
way up from there
Founded Standard Oil
Company in 1870
Became filthy rich and lived
out the rest of his life as a
Died happy, fat, old, and still
filthy rich in 1937
Vertical Integration (“from the drill to
the gas pump”)
Horizontal Integration (Buying up all
other oil companies)
Secured the lowest shipping rates from
Severely lowered prices to out-compete non-
cooperative, small competitors and then
bought them out
Built/Owned any transportation or storage
that was necessary (bought tracts of land with
trees on them that were then used to build
barrels to store the oil, also built railroads
specifically for shipping his oil)
Increased efficiency on all levels
Utilized all waste products (used
leftovers from the oil refining process to
Lowered cost of oil products
Cheap oil helped fuel the popularity and
and accessibility of cars for the growing
Provided jobs for unskilled workers
System was abusive to workers
Stressful for small businesses (almost always
forced them out of business)
Large monopolies contributed to the Great
Society was far too dependent on a single
JD the Rock founded Standard Oil in
1870 which was a monopoly. It became
a monopoly through vertical/horizontal
integration (he bought up other oil
companies, and everything necessary
for the ENTIRE oil refining process). He
could control prices entirely on his own
which made him a very successful man.
Basically he was a genius.
Hirshberg, Charles. The Four Horsemen. Rev. of Barrons.
3 Oct 2005: Platinum Periodicles, ProQuest. 22 Sept
Klamm, Judith. The Tycoons: How Carnegie, Rockefeller,
Gould and Morgan Invented the American Supereconomy.
Rev. of Library Journal 1 Sep 2005: Platinum Periodicles,
ProQuest. Web. 22nd September 2009.
Rigby, Rhymer. The Worlds First Oil Billionare.
Management Today. 1 August 1998: Platinum Periodicals,
ProQuest. 22nd September 2009.
Treckel, Paula. Lady Muckraker. American History June
2001: 38-44. SIRS Researcher. Web. 20 September 2009.