The Standard Oil Trust

The Standard Oil Trust was a powerful American oil company founded in 1870 by John D. Rockefeller. It controlled the majority of the U.S. oil refining and distribution, leading to significant market dominance. The trust was known for its aggressive business practices, which included undercutting competitors and forming monopolies. This control sparked public and government concern over competition and consumer rights. In 1911, the U.S. Supreme Court ruled that Standard Oil violated antitrust laws, leading to its breakup into several smaller companies. The case set important legal precedents for regulating monopolies and promoting fair competition in the marketplace.