Petroleum

Cover Petroleum
Petroleum
Albert Lidgett
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It is safe to assert that, had it not been that the petroleum industry has, in its various industrial and commercial aspects attracted the attention of some of the finest financial and business houses in the world, the wonderful progress which has been recorded would, for the most part, have been impossible.
The first place must of necessity be given to that much maligned amalgamation of capital, the Standard Oil Company of New Jersey, which was formed as far back as 36 years ago by Mr. John D.
... Rockefeller and his associates for the primary purpose of developments in the petroleum industry of the United States. At that time, the petroleum production of America had become quite a factor in commerce, but it was, obviously, in want of a guiding hand which could not only place it upon a basis of solidity, but which would tend to remove much of that gambling element which had become almost part and parcel of all developments. The Company, at the head of which were several gentle- men who had already made themselves famous in the land of oil, launched out in several directions, and, through the numerous subsidiary concerns which it 149 150 PETROLEUM soon created, it owned very extensive oil-bearing properties in practically every oil-field of the States, while it built quite a network of pipe-lines for the conveyance of the oil from the fields to the refineries, and from the refineries to seaboard.

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