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Standard Oil Trust: The First Monopoly of America

The document summarizes research done on the Standard Oil Trust for a National History Day project. The group initially focused on consumer protection but narrowed their topic to antitrust laws, focusing on Standard Oil as it instigated early acts like the Sherman and Clayton Acts. They researched Standard Oil's history and impact through websites and Ida Tarbell's book. The group created a website to convey their knowledge on Standard Oil's creation and destruction, including a timeline. Their topic tied to the NHD theme of individual and consumer rights versus monopolies' power over prices and competition.

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76 views3 pages

Standard Oil Trust: The First Monopoly of America

The document summarizes research done on the Standard Oil Trust for a National History Day project. The group initially focused on consumer protection but narrowed their topic to antitrust laws, focusing on Standard Oil as it instigated early acts like the Sherman and Clayton Acts. They researched Standard Oil's history and impact through websites and Ida Tarbell's book. The group created a website to convey their knowledge on Standard Oil's creation and destruction, including a timeline. Their topic tied to the NHD theme of individual and consumer rights versus monopolies' power over prices and competition.

Uploaded by

floobed
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as ODT, PDF, TXT or read online on Scribd
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Standard Oil Trust

The First Monopoly of America


http://74365165.nhd.weebly.com

Nathan Reagan, Mostofa Hisham, Darling Hernadez Senior Di ision !roup "e#site

$ecause our initial interest %as in consumer protection, #ut %e realized the topic %as too #road to thoroughly research, %e #egan to narro% our focus into antitrust la%s& 'pon researching the most prominent cases, %e found that many of the early acts, such as the Sherman and (layton Acts, %ere directed to%ards monopolies, and that one corporation in particular instigated the founding of these) Standard Oil& Through a #etter understanding of the early oil #usiness and the impact of Standard Oil, %e concluded that Standard Oil %as an interesting topic that also tied %ell %ith the theme& "e started our research #y familiarizing oursel es %ith the topic, so %e scoured %e#sites for any facts pertaining to the topic& After getting a #asic understanding of the history of the Standard Oil (ompany, %e then created a document to hold and categorize the general information& This helped us to form a small outline and *no% e+actly %hat to research for future reference& "e then narro%ed our research to *ey indi iduals %hom %ere rele ant to #oth the creation and destruction of Standard Oil& ,da Tar#ell-s The History of the Standard Oil Company pro ided an in.depth first hand account of the monopoly at the pea* of its reign, and further #rought the issues %ith their #usiness tactics to perspecti e& Due to the lac* of images and surplus of information, %e decided that a %e#site %ould #e the #est method of portraying our *no%ledge of the topic& The %e#site also allo%ed for more interacti e displays of information, %hich %as necessary for the timeline& $y starting %ith categories, this allo%ed for us to determine the su#categories, %hich ser ed as a #lueprint for researching the crucial information %hile disregarding the unimportant facts& "e then #egan adding the te+t %hich %e found to #e the most rele ant to the topic, and then completed the research portion #y filling the pages %ith supplements, such as pictures and /uotes& To enhance the structure of the %e#site, %e added the

timeline, as %ell as enhancing it to #e more isually appealing& Our topic tied to the NHD theme #y the fact that Standard Oil had disregarded the rights of other #usinesses to ha e the chance to compete for economic prosperity, and the rights of people to ha e freedom in their choice in their oil pro ider& This also stressed the responsi#ility of (ongress to ensure fair competition for all trades, and to also stop monopolies from rising& Also, since the Standard Oil (ompany had the po%er to modulate oil prices, they could set a price ery high in order to ma+imize profit, #ut then they %ill #e #reaching consumer rights, since the consumers ha e no po%er to re#el against the prices gi en #y a monopoly&

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