Part 5/9:
By the mid-1860s, Rockefeller had proven himself a master of efficiency amid a rapidly changing industry landscape. However, he needed to eliminate competition to secure dominance. He outmaneuvered local refiners, offering to buy them out or otherwise threatened them with ruthless competition. By 1870, he established the Standard Oil Company.
Here, Rockefeller didn't just build a business; he created a monopolistic empire. His strategy was systematic, controlling not just the refineries but also transportation through strategic deals with railroads, offering secret rebates that allowed him to undercut competitors on prices. This aggressive expansion positioned Standard Oil to dominate the oil supply chain.