The Sherman Antitrust Act: Standard Oil Co. Of California

The company thrived immediately from the beginning so they started buying out their competitors. The company made very quick moves, so they eventually controlled most of the refineries in Cleveland. Then, they started to make deals with railroads to ship their oil and they started purchasing terminals and pipelines to handle the transportation of their oil. The Standard Oil Company started to buy their own plots of land for drilling and for lumber. By doing this, they started owning every part of the oil business. Standard then started buying out other competitors on the east and west coast. Through this, they established a monopoly, and controlled around 90% of the United States’ oil

Standard Oil was the United States’ first monopoly, and it was a rollercoaster of a ride for the company. Standard Oil started from the ground up and grew into a massive enterprise, that would eventually make John D. Rockefeller the richest man in the world. This would come at a price, the demise of Standard Oil, but multiple companies are born out of the demise of Standard Oil that become some of the largest oil companies today. Standard Oil even caused the United States of America to create a federal act to try and control monopolies from eliminating competition in unethical ways, and from becoming so powerful that they can control not just their markets, but other markets too, and from having the ability to change the price on consumers

In 1890, Congress passed the Sherman Antitrust Act to battle anticompetitive practices, reduce market domination by individual corporations, and preserve unfettered competition as the rule of trade ("Antitrust: an overview," 2011).The antitrust investigation that I am looking at is against several major baby formula brands. Companies that were involved in this investigation include Mead Johnson Nutrition of the United States, Dumex which is owned by Danone, Wyeth which is owned by Nestle, Abbotts and Friesland Campine, Biostime, and Beignmate.

The Standard Oil Trust of Ohio was and American oil producing, refining, and transporting company. It was founded in 1863 by John D. Rockefeller and lasted until 1911. During 1868, Rockefeller expanded the oil company to become the largest oil refining company in the world. In 1870, the company was renamed Standard Oil Company. After it was renamed, Rockefeller purchased most of the oil companies that were currently in business to make one large company.

Everything Rockefeller had done when it came to his position in the oil business led to America’s first monopoly or “trust” that served as a guideline for other businesses behind him. Standard Oil’s moves were quick to sweep control of almost all of the refineries in Cleveland in just two years. With Standard Oil’s size and control in the region it made favorable deals with railroads to ship its oils. At the same time, Standard got into another business with a purchase of terminals and pipelines which set up a system to transport its own product. The business got

Exxon Mobil is a combination of two of the United States’ oldest oil companies: Jersey Standard and Vacuum Oil Company. These companies are 2 of the 34 oil companies that Standard Oil was broken up into after the 1911 Supreme Court decision that ended John D. Rockefeller’s trust. The Standard Oil Company of New Jersey v. United States case decision was made after the court deemed the Standard Oil Company’s monopoly on oil businesses unnecessary and in violation of the Sherman Antitrust Act. The name Exxon Mobil is devised after Jersey Standard changes its name to the Exxon Corporation in 1972 and also when Vacuum Oil Company changes its name to Mobil Oil Company in 1966. After being split for 88 years, the two corporations finally merge to become the Exxon Mobil Corporation on November 30, 1999. Based in the United States, the corporation is known around the world by the following three brands: Exxon, Esso, and Mobil. Esso was created by Jersey Standard in 1926 when the company releases a new blend of fuel; the name features the initials of their former company Standard Oil. Ten years before the merge, Exxon’s ship in Prince William Sound, Alaska, the Exxon Valdez faced a terrible oil spill in Alaska on March 24, 1989. Although the company claimed responsibility for their action and quickly cleaned up their mess, should Exxon Valdez done more or did they do enough to compensate for their mistake (ExxonMobil)?

Chevron originally called the Pacific Coast Oil Company was founded by Demetrius Scofield and Frederick Taylor back in 1879 in California. The logo contained the company’s name over a picture of the Santa Susana Mountains, where the Pico Canyon is located and where the company discovered their first successful oil well. This oil well made California an oil-producing state as well as it launch Chevron as a risk taking and innovative company. After years of being in business the Pacific Coast Oil Company decided to merge with Iowa Standard. By 1909 the company had the ability to drill their own oil and ten years later they had produce more than one-quarter of the state’s total oil. By 1928 the company merged with the Gulf Oil Corporation who offered Bahrain,

This article explores Chevron's recent announcement of investing USD 12 Billion in oil drilling and exploration in the Gulf of Mexico.

Chevron Corporation is one of the biggest energy Company in the world, which is belonged in every side of the natural gas and oil industry with exploration and production, chemicals manufacturing and sales, mining operation, geothermal, power generation, and transportation.

Chevron is a publicly traded company on the New York Stock Exchange. Their stock symbol is CVX. Chevron is in the business of oil and gas and was founded in 1984 as the Chevron Corporation. Chevron’s headquarters is in San Ramon, California and they serve on a multinational level to over 180 countries world wide. This makes Chevron the fourth largest petroleum company in the world. In 2015 Chevron had grossed revenue of about 130 billion dollars with a net income of 4.58 billion dollars. John S. Watson currently serves as the chairman and C.E.O. of the Chevron Corporation and he also sits on the board of directors.

Chevron began with the discovery of oil north of Los Angeles in 1879 and was originally named the Pacific Coast Oil Company. Later John D. Rockefeller’s Standard Oil bought Pacific Oil in 1900 to form Standard Oil (California). In 1911, the Sherman Antitrust Act would force the breakup of the parent Standard Oil and Chevron became Standard Oil of California or Socal. Socal would go on to form joint venture with Texaco in 1936 to form Caltex, to develop and market oil in the Middle East and Indonesia. It would then go on to form the Aramco partnership in the Middle East, which composed of Socal, Texaco, Exxon and Mobil but by 1980, Aramco was completely owned by the

Chevron is a world-renowned company that is a leader in the development of energy resources that help drive human progression. The ability to meet the needs of ever-expanding energy consumption is what makes Chevron an innovative and market leading company. When people think of Chevron many think of “Big Oil”, when in fact, its business strategy is very complex and entails:

The oil companies of today’s societies are bigger than from the past and have been making the news worldwide. These companies have been growing and trying to lease more property across the country in order to keep making money. “While the oil and gas industry argue that for expanded access to federal land, they sit on over 29 million acres of unused federal oil and gas leases.” (Elizabeth Lopez, Hill Briefing- Oil and Gas Effects 2011). January 10, 1901 the big oil boom started for Texas. (Mary G. Ramos,Texas Almanac 2000) That’s where it all started, and has grown to a monster of a business since then.

Chevron is one of the largest publicly world traded oil and gas companies in the world, based on proved reserves. It is lifting in oil and gas production and exploration and distillation of petroleum products, manufacturing of chemicals, and other energy-related businesses. Chevron, in its present form, resulted from the 2002 merger between Texaco and Chevron Corporation.

Exxon Oil Company was established on January 1, 1973, in the United States as a result of a merger between Esso, Enco, and Humble oil companies. These three companies were held under Standard Oil of New Jersey, which was John Rockefeller’s company that dissolved during the 1911 Standard Oil Antitrust Settlement. On November 30, 1999, Exxon and Mobil merged to form the Exxon Mobil Corporation. At the time of the merger CEOs Lee Raymond and Lou Noto (1999) proclaimed, “This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive.” (Exxon Mobil, 2014). Today Exxon Mobile is engaged in exploration, production, refining and marketing of oil and natural gas. The company’s headquarters are located in Irving, Texas and has a total of 75,000 employees globally, operating with a major presence in North America and Europe. In addition the company has an annual revenue of $420,868,000,000 and $32,580,000,000 in net profits (FY13), their NYSE:XOM is totaled at $95.82. (Exxon Mobil, 2014). However, due to new economic threats, oil, an inelastic commodity, may soon become elastic. This paper will discuss some of the economic threats hindering the oil companies, such as Exxon, and reveal the economic factors that are helping insulate the oil industry from those threats.