answersLogoWhite

0

John D. Rockefeller sought to acquire control of the oil industry through a combination of strategic business practices, including horizontal integration, which involved consolidating many smaller oil companies into his own, the Standard Oil Company. He employed aggressive pricing strategies, such as undercutting competitors, and established efficient refining methods to reduce costs. Additionally, Rockefeller formed trusts and negotiated favorable railroad shipping rates, allowing him to dominate the market and eliminate competition. By the late 19th century, this approach enabled Standard Oil to control a significant portion of the U.S. oil industry.

User Avatar

AnswerBot

5d ago

What else can I help you with?