The Standard Oil Company, a dominant integrated oil producing, transporting, refining, and marketing enterprise, controlled a significant portion of the oil industry in the late 19th and early 20th centuries. Its immense size and monopolistic practices prompted significant public concern and governmental action. For example, its control over pipelines gave it an unfair advantage over competitors.
The entity’s impact on the American economy and legal landscape was profound. Its business practices fueled the rise of the antitrust movement and ultimately led to a landmark Supreme Court case. The breakup of this organization in 1911 under the Sherman Antitrust Act established a precedent for regulating monopolies and promoting fair competition, shaping the future of American business regulation.