Breakup of Standard Oil

The breakup of Standard Oil in 1911 was a major court-led action where the U.S. government deemed the company’s practices monopolistic and anti-competitive. Standard Oil, dominant in the oil industry, was accused of unfairly controlling prices and squeezing out competitors. To promote fair competition, the Supreme Court ordered the company to be divided into several smaller, independent companies. This breakup aimed to prevent any single firm from dominating the market, encouraging innovation and fair prices. It was a landmark case that shaped antitrust laws, emphasizing the importance of competition for a healthy economy.