How Did John Rockefeller React To The Rise Of The Petroleum Industry

Oil replaced the use of coal in factories. Oil presented a faster, efficient and light source of energy to the people of the USA. This opened up channels for modern producers, as well as the rise of factories that were linked to the use of oil.

Benjamin Sovacool explains in his article that over the period of twelve years, the United States shale gas production increased 24.5 times the amount it produced in 1998. From 0.2 trillion cubic feet to an enormous 4.9 trillion cubic feet. Natural gas is also a huge financial benefit to North America. Before this drastic increase of fracking and natural gas production, the United States imported a clear majority of its oil and energy sources from the Middle East. This caused the middle east to obtain a control over the United States economic situation. For example, the 1979 oil embargo caused by OPEC (organization of petroleum exporting countries). According to Kimberly Amadeo, their decision to increase oil prices by a meager ten percent, caused oil rationing in the United States and worsened the already declining economy at this time. Since the increase in fracking and natural gas production, the U.S. has become decreasingly reliant on imported energy sources. Richard Janson denotes, that the impact of this influx of cheap gas has had many positive impacts on not only the economics of the energy industry, but foreign policy and the United States domestic policy. With the downfall in the need for imports for energy and the rise of hydraulic

Prior to the decline of fuel prices, I had always thought there was not enough being done here in American to contribute to the production of oil. Until now, fuel prices were astronomical. Americans were having to plan out their route and car pool due to excessive prices. Unnecessary trips was not an option.

Would you rather take risks or be cautious and never take a risk? John D. Rockefeller started his own oil company risking everything he had in order to accomplish his dream and he did. You should take more risks because you will learn from your mistakes, be more prepared and you can reach your goals.

John Rockefeller was born in Richford, New York on July 8, 1839. At the age of just 14 he moved with his family to Cleveland, Ohio. At the age of 16 he got a job as an assistant bookkeeper with Hewitt & Tuttle, commission merchants and produce shippers. By the age of 20, Rockefeller went out on his own with a friend of his, working as a merchant in hay, meats, grains and other goods. At the close of the company's first year in business, it had grossed $450,000.

Young people everywhere, all wanting one thing, success. It doesn't matter where you are from, your race, your religion, none of that matters, when you have a great attitude and are willing to rise above and beyond. Many people are held back by barriers, but only the bravest will be willing to climb those walls . The ambitious ones, will reach their goals, maybe even more, their determination will bring on great possibilities. Acknowledged by many, John.

This career started with the discovery of oil in 1859 when Edwin Drake had the first commercial oil rig. The pipes started out being simple, by starting at the drill hole and going to the tank or refinery as long as it was close. In the early 1900’s, John D Rockefeller became the most powerful man in the world, controlling most of the world's oil. After a few years, the government put a stop to Rockefeller’s rein and distributed the wealth. In the 1920’s, the pipeline grew to over 115,000 miles of pipe, almost tripling in size. During WWII, pipelines went from Texas and Oklahoma to the east coast making it faster and more efficient. That in return made production of war materials grow rapidly. In the 50’s, the United States became explorers

Oil benefited the U.S exceedingly in many financial ways. It all begun one day at Spindletop where petroleum spilled all over the Hamilton brothers. Not only did oil impact the nation financially, but where most oil rigs were, many social changes occurred. Three of the most important were, possible higher \rates, colleges making billions off of granted lands, and Mexican-Americans and african Americans gaining jobs.

I chose to watch episode number one. It showcase the story of John D. Rockefeller. He was known for his great accomplishment to be the founder of Standard Oil Company. When he first comes into the show he had just cheated death. Avoiding a near train accident on his way to meet up with Vanderbilt.

The most significant and direct however, was the birth of the modern energy era. It created a drive to not rely on foreign oil. It was the jumpstart that initiated a turn to energy conservation and a search for alternative energy sources. Finally, it led to Congress passing the first National Corporate Average Fuel Economy Standards. These factors prove the most significant direct, lasting effect of the 1973 Arab Oil Embargo was the radical changes in the U.S. energy sector. According to Daniel Yergin, the embargo “provided massive incentive to develop new oil fields outside of the Middle East”. This desire to become energy independent was expressed in President Ford’s speech on the Energy Policy and Conservation Act and has continued to be a top national priority today, as evidenced by President Obama stating a major priority would be to end dependence on oil from the Middle East and Venezuela within 10 years (Ford and Obama). The evidence above outlines the huge effect the 1973 embargo had on U.S. energy and energy policy and shows how the impact is still seen

John D. Rockefeller was the creator of the US Standard Oil Company, a company that dominated the oil industry, Which led to the establishment of the first successful U.S. Business Trust. Through the company, Rockefeller became one of the richest men in the US. With this money a new hobby emerged. Philanthropy, Philanthropy became a large portion of his life. Along with being a large supporter of industrialization. Even though critics tried to find holes in his system they often failed. However, all great things come to their end. The Standard Oil system faced is defeat in 1911 but not before Rockefeller became one of the most successful businessmen of all, along with one of the greatest philanthropists.

Rockefeller worked through many jobs up until he joined the oil business by investing in a refinery in Cleveland.

In 1859, two people: Edwin Drake and E. B. Bowditch who worked for the Seneca Oil companny drilled the very first oil well that was located in Pennsylvannia. The well produced about 500 gallons of oil a day and over time has increased. Wells that were similar to the one originally made all over the west side of Pennsylvania distributed oil and crude kerosene to different companies for various reasons. Lee R. Raymond said “The lighter boiling component, gasoline, was discarded, since it had no market. There are historical reports that waste gasoline, which had been dumped into rivers, sometimes caught fire. In 1892 the first gasoline-powered engines, for both car and tractor, were developed: This soon provided a market for the once useless substance, gasoline” (Octane Quality 2013). Gas was a lot cheaper in the 20th century compare to now which is the 21st century. Locations, places, prominent ways of transportation and how cars weren’t really needed and are part of the reason why gas was cheaper in the 20th century.

In 1859, two people: Edwin Drake and E. B. Bowditch who worked for the Seneca Oil company drilled the very first oil well that was located in Pennsylvannia. “The well produced about 500 gallons of oil a day and over time has increased” (American Coalition for Ethanol 2013). Wells that were similar to the one originally made all over the west side of Pennsylvania distributed oil and crude kerosene to different companies for various reasons. Lee R. Raymond said “The lighter boiling component, gasoline, was discarded, since it had no market. There are historical reports that waste gasoline, which had been dumped into rivers, sometimes caught fire. In 1892 the first gasoline-powered engines, for both car and tractor, were developed: This soon provided a market for the once useless substance, gasoline” (American Coalition for Ethanol 2013). Gas was a lot cheaper in the 20th century, compared to now, the 21st century. Locations, places, prominent ways of transportation and how cars weren’t really needed and are part of the reason why gas was cheaper in the 20th century.

The United States economy is highly dependent upon fuel. Fuel is a major source that come from fossil fuels from all around the world. Fossil fuels are used to fuel cars and airplanes, power electricity plants, and heat our homes. So this lies around the question, where does fuel come from? There are 3 forms of fuel, coal, oil, and natural gas. Coal is found in many of the lower 48 states of United States and throughout the rest of the world. Oil and natural gas is located under porous rock deep within the earth’s surface. Oil was formed millions of years ago. It is mined from the ground and is not as easy to find as coal. There is also as a higher demand of fossil fuels. Due to the high demand, oil is transported by pipelines and trains from around the world. In the Middle East, there are new discoveries of natural gas that is also known as Methane.