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Interstate commerce act

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Which of the following was an attempt to restrict a monopoly of the oil industry in the US?

Sherman Antitrust Act


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The law that prohibits actions that lead to a monopoly is the Sherman Antitrust Act. This legislation aims to promote fair competition by preventing businesses from engaging in practices that restrict trade or create monopolies that harm consumers.


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Competition was snuffed out because of monopolies. Since people were in bad shape after the war, large companies (most likely subsidized by the government) monopolized areas. An example of this monopoly would be the railroad industry. Trains were first made to be the only source of transport. If you think about cars, the oil industry also set up a monopoly so the single source of fuel would be gasoline. Competition relates to monopoly because the act of monopolizing gets rid of competition.


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The Interstate Commerce Act of 1887 is a federal law regulating the railroad industry. It was meant to eliminate the monopoly that railroad companies had on transportation of people and goods.


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