Ludvig Nobel and the Baku Oil Industry

The 18th century saw a boom in the oil industry. The United States dominated the industry with its leading company, Standard Oil. But it faced competition from the other side of the world – Russia. The oil city of Baku challenged American domination of world’s oil supply. In this city, it saw the rise of another member of the Swedish family Nobel – Ludvig or Ludwig Nobel.

John Warne Gates: From Barbed Wire to Riches

John Warne Gates

Barbed wire is a small tool that changes the world. It changed how ranchers grew their livestock. It’s a tool used to keep prisoners inside their prison. It changed the faces of battlefields forever. During the advent of this small but decisive tool, many took the opportunity to make some money from it. But one man stood to dominate the industry. A man that did not invent barbed wire but used it to made a fortune from it. A fortune that so huge that a million dollars can be easily loss in one poker game. 

Cleveland Massacre: The Rise of Standard Oil

John D. Rockefeller (1870's)

In winter of 1871, a collusion was form between the railroads and the oil industry. As the two began to execute their devious plan to corner the railroad and oil industry under the name of South Improvement Company, the public, especially the press, protested against the monopolistic intentions of the group. As a result, the South Improvement Company disappeared with the winter. However, when spring bloom in 1872, so as a new powerful company also appeared, a bigger and stronger company of the oil mogul John Rockefeller, Standard Oil.

Pennsylvania Oil Rush of 1859

Pennsylvanian Oil Wells (1862)

Oil is one of the most precious commodities in the planet. It powered trucks, cars, and power plants. It was the main foundation of the industrialized and modernized world. Without it, the world would remain backward. Technology would remain primitive. And the basic source of labor would remain animals and men. In the United States, the discovery of oil was a god send. 

South Improvement Company: Start of a Monopoly

Thomas Scott (Left) and John Rockefeller (Right)

John D. Rockefeller was known as the man who monopolized the American oil industry for some decade. He dominated 90% of the North American oil trade. He beat down his competitors with predatory efficiency and ruthlessness. Rockefeller earned strong opposition and criticism. Finally, in 1911, his most cherished business, the Standard Oil, was found guilty of being a monopoly and break up into several companies, which some became powerful oil companies. The story of the creation of the monopoly of Standard Oil began in 1870’s as a collusion of interests and advantages under the name of South Improvement Company.

John D. Rockefeller: Robber Baron, Oilman, Billionaire

John D. Rockefeller

Oil is one of the most treasured and valuable commodity in the world. Many countries, especially China, want to get a hold of it. Most of the oil reserve is owned by great billion-dollar companies such as Chevron, Mobil, and Exxon. But during the 1800’s, the advent of the black gold, a company was formed that became the root of the mentioned companies and from a man that is known as the richest person ever.