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Planet Money cover image

Antitrust in America (classic)

Planet Money

NOTE

How Rockefeller Conquered the Oil Industry

Ida Tarbell's father was upset when he discovered that the oil business was dominated by big players making secret deals, excluding him. As Ida Tarbell researched further, she found that Rockefeller used a similar strategy to conquer the industry. His company grew to the point where he could negotiate with railroads for discounts and influence their choices. He also demanded money from them for carrying his competitor's oil. These revelations exposed how Standard Oil gained an unfair advantage, which Rockefeller exploited.

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