break-up of Standard Oil

The breakup of Standard Oil in 1911 was a result of U.S. antitrust laws aimed at promoting competition. Standard Oil, once a dominant oil company, had grown so large and powerful that it controlled many other companies through trusts and monopolistic practices, which stifled competition and hurt consumers. The U.S. Supreme Court determined that Standard Oil's practices violated antitrust laws and ordered it to be broken into smaller, independent companies. This dismantling helped create a more competitive oil industry, leading to the rise of several well-known companies that continue to operate today.