Standard Oil Trust

The Standard Oil Trust was a powerful American oil company founded by John D. Rockefeller in the late 19th century. It controlled almost all oil production, refining, and distribution in the U.S. through a network of subsidiaries, allowing it to dominate the market and drive down prices. Set up in 1882, the trust was criticized for creating unfair monopolies, stifling competition, and manipulating markets. In 1911, the U.S. Supreme Court ruled it violated anti-trust laws, leading to its breakup into several smaller companies. This action was a significant moment in regulating business practices and promoting fair competition.