Essay On Exxon

By 1882 The Standard Oil Company had become the most efficient corporation, producing the highest quality products as well as charging the lowest prices. Rockefeller was philanthropic in his endeavors, incorporating his acquired companies into the ever enlarging Standard Oil. The Standard Oil Company helped to strengthen the American economy, created jobs, and was one of the leaders in making the United States the industrial giant that it is today.

- 1863, John D. Rockefeller founded company to control most of nation’s oil refineries by eliminating competition.

The company thrived immediately from the beginning so they started buying out their competitors. The company made very quick moves, so they eventually controlled most of the refineries in Cleveland. Then, they started to make deals with railroads to ship their oil and they started purchasing terminals and pipelines to handle the transportation of their oil. The Standard Oil Company started to buy their own plots of land for drilling and for lumber. By doing this, they started owning every part of the oil business. Standard then started buying out other competitors on the east and west coast. Through this, they established a monopoly, and controlled around 90% of the United States’ oil

John Davison Rockefeller was the founder of Standard Oil Company in 1870 and ran it until he retired in 1897. Standard Oil gained almost complete control over the oil refining market in the United States by underselling its competitors. Rockefeller and his associates owned dozens of corporations operating in just one state.

In 1870 him and others began the Standard Oil Company, which swiftly took out others and became the biggest corporation in America. Rockefeller did everything to keep his business on top: running pipelines, buying transportation to control the whole cycle, and even buying land to stop others from piping, nothing was going to stop him from international takeover. (Bio 2014) In merely a decade, John Rockefeller had managed to create a near monopoly of the oil industry from coast to coast. This is when the government stepped in, and in 1890 created the Sherman

Standard Oil was the United States’ first monopoly, and it was a rollercoaster of a ride for the company. Standard Oil started from the ground up and grew into a massive enterprise, that would eventually make John D. Rockefeller the richest man in the world. This would come at a price, the demise of Standard Oil, but multiple companies are born out of the demise of Standard Oil that become some of the largest oil companies today. Standard Oil even caused the United States of America to create a federal act to try and control monopolies from eliminating competition in unethical ways, and from becoming so powerful that they can control not just their markets, but other markets too, and from having the ability to change the price on consumers

The Standard Oil Trust of Ohio was and American oil producing, refining, and transporting company. It was founded in 1863 by John D. Rockefeller and lasted until 1911. During 1868, Rockefeller expanded the oil company to become the largest oil refining company in the world. In 1870, the company was renamed Standard Oil Company. After it was renamed, Rockefeller purchased most of the oil companies that were currently in business to make one large company.

Exxon and Chevron are no doubt some of the leading incorporated oil companies on the globe. Exxon Corp. is the second largest oil firm after Royal Dutch Shell, it is respected for getting the biggest revenue return in 2008 which no company in the U.S. have ever reported before. According to Wilson (2009) Chevron has managed to show a lot of profitability in the market despite the decease in its oil production. It graded as one of firms which made a billion dollars profit within a week in the period of July to September 2008. Regardless of profitability trends set by the two oil firms in the U.S. market, they have been facing financial decline like the rest of the companies in other industries. The two firms are like two sailing ships which are taking longer time to sink. In the last few years, the production capacity of Chevron and Exxon has decreased and their listings on the stock market have become weak. The continuation of construction and drilling which requires billions of dollars in expense of oil production might make them experience a bigger financial crisis (Wilson, 2009).

One of the most reputable resources that Exxon Mobil has today is a strong brand name. Exxon Mobil operates all over the world and is recognized in every part of the world (Datamonitor, 2008). When people all over the world know who a company is, what they do, and where they are located, the company gains a unique competitive advantage over

British Petroleum, BP, began as the Anglo-Persian Oil Company in the beginning of the 1900’s. The founder, William D’Arcy, risked his entire fortune at the hopes that oil would be discovered in Persia. He was success on May 28, 1908. The business struggled in the early years, but ultimately found success. BP has become a global leader in the energy business. Beginning in 2000 and in the years to follow BP has focused not only on oil, but also on oil alternatives such as; solar, wind, natural gas, and biofuels (British Petroleum, 2015).

BP may be ranked 3rd largest energy company and is positioned as a multinational oil company. And their headquartered station in London, operates petrochemical network of its subsidiaries and retail brands ( ARCO; Amoco; Castrol) But this company has come through much tribulations since there accident in 2007 and they are still strong.

While ExxonMobil’s engagement with communities that are proximal to their operations can often be described as proactive and

British petroleum (BP) is one of the seven super major oil company in the world. BP are the fourth largest gas and oil company in the world. BP has a hand in every aspect of the oil business from exploring for new oil to marketing and distribution. BP originally started as the Anglo-Persian Oil Company in 1908, established as a subsidiary of Burmah Oil Company. The Burmah Oil Company. Would capitalize on discoveries they made in Iran and the middle east. The company would take its current name as British a petroleum in 1954. The company slowly started to expand from their roots in the middle east. BP chose to expand to Alaska in 1965. BP would continue their expansion in America when the gain the majority control of Standard Oil of Ohio in 1978. Also during the time BP would continue their ongoing exploration for new sources of oil. They became the first company to strike oil in the North Sea. The British government gradually privatized Standard Oil of Ohio for 1978-1987. In the last half of the 20th and the beginning of the 21st century BP took two major steps to expand their company. BP first major expansion occurred when they partnered with Amoco during this time they also acquired and absorbed Burmah Castrol in 2000. Also for 2003 to 2013 BP had a joint partnership with the oil company TNK of Russia. BP tireless effort towards expansion have made them highly successful and one of the top four oil and gas companies in the world. BP turned a profit of 6.48 billon U.S.

The breakup of the Standard Oil monolith resulted in about 37 new companies. Rockefeller still secretly controlled them all by owning a voting majority of stock in the new corporation. Thus Standard Oil would be known as Standard Oil New Jersey (Exxon), Standard Oil New York (Mobil), Standard Oil Indiana (Amoco), Standard Oil California (Chevron), Atlantic Refining (Arco) etc., etc.

     Chevron Texaco, or Texaco Shell, is the leading competitor to ExxonMobil. Texaco is in the same areas of business as Exxon. Their petroleum products and lubricants are sold in the same markets, stores, and in many cases opposite street corners from each other. The two companies are very similar, but Exxon’s recent petroleum deals in the Middle East and Africa have allowed its stock price to jump ahead for the time being (1). In the industry, the two companies mainly compete for the ability to negotiate for new production. The competition is not made at the pump or at the local auto store. It seems that it’s more important to control oil than it is to sell it quickly. Because oil has so much value and power in the world, the industry is made of semi-friendly companies. Surviving and making as much profit as possible, is more important than trying to put people out of business.