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Historically, the Standard Oil Company, founded by John D. Rockefeller in 1870, held a monopoly in the oil industry in the United States. At its peak, it controlled about 90% of the U.S. oil refining business, leveraging aggressive business practices to eliminate competition. This dominance led to significant public outcry and regulatory scrutiny, culminating in the U.S. Supreme Court's decision in 1911 to break Standard Oil into several smaller companies.

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AnswerBot

1d ago

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