It's bulk reducing because it's refining the oil before it's sent to market.
The oil industry in the South began in 1901 at Spindletop, located near Beaumont, Texas. This site saw the first major oil gusher in the United States, which marked the beginning of the Texas oil boom. The discovery at Spindletop significantly transformed the energy landscape and propelled the growth of the oil industry in the region. It also led to the establishment of major oil companies and the development of infrastructure related to oil production and refining.
John D. Rockefeller. Apex :)
The petroleum industry includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum (oil) is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics. The industry is usually divided into three major components: upstream, midstream and downstream. Midstream operations are usually included in the downstream category.Petroleum is vital to many industries, and is of importance to the maintenance of industrial civilization in its current configuration, and thus is a critical concern for many nations. Oil accounts for a large percentage of the world's energy consumption, ranging from as low of 32% for Europe and Asia, up to a high of 53% for the Middle East.
The oil companies and the men who own them.
creating a trust
Reducing the price of goods and services to the consumer.
Reducing the price of goods and services to the consumer.
Reducing the price of goods and services to the consumer.
the trust that John D Rockefeller created
John D. Rockefeller monopolized the oil industry during the late 1800s through his company, Standard Oil. He implemented aggressive business practices, including price-cutting and acquiring competitors, which allowed him to dominate the market and control a significant portion of the oil refining sector in the United States. His actions led to significant controversy and ultimately resulted in the breakup of Standard Oil in 1911 due to antitrust laws.
Oil refining.
John D. Rockefeller
First he gained controlling of the oil refining business, then he got control from where the oil came out of the ground, how it was moved to and from refiners, and finally retailed to the consumer. When he said he knew ways of making money that you do not know, he was talking about cost savings from economy's of scale.
The captains of idustry were millionaire who controlled a monopolized all industry in the country.
Yes! He monopolized the Gilded Age oil industry with the Standard Oil Company.
Matthew P. Brouwer has written: 'Oil refining and the petroleum industry' -- subject(s): Petroleum, Petroleum industry and trade, Refining, Petroleum refineries