Contents
- 1 What law was used in the lawsuit against Standard Oil?
- 2 What laws did Rockefeller break?
- 3 What was Standard Oil guilty of?
- 4 What companies did Standard Oil become?
- 5 Who broke up the Standard Oil trust?
- 6 What is the government’s policy on oil and gas?
- 7 Why was the Sherman Antitrust Act passed in 1914?
What law was used in the lawsuit against Standard Oil?
the Sherman Antitrust Act
Facts of the case In 1909, a federal court found Rockefeller’s company, Standard Oil, in violation of the Sherman Antitrust Act. The court ordered the dissolution of the company.
What legislation did Roosevelt bring suit against Standard Oil?
On November 18, 1906, the U.S. attorney general under Roosevelt sued Standard Oil of New Jersey and its affiliated companies making up the trust. The suit was filed under the Sherman Antitrust Act of 1890.
What laws did Rockefeller break?
On May 15, 1911, the Supreme Court ordered the dissolution of Standard Oil Company, ruling it was in violation of the Sherman Antitrust Act. Rockefeller entered the oil industry in the 1860s and in 1870, and founded Standard Oil with some other business partners.
What legislation was utilized to support the case against Standard Oil Where and when was the court case heard?
the Sherman Antitrust Act of 1890
of New Jersey v. United States was a Supreme Court case that tested the strength of the Sherman Antitrust Act of 1890. The most contentious business case at the time to reach the Supreme Court saw the United States government take on the countries largest corporation (Standard Oil) and John D.
What was Standard Oil guilty of?
United States, 221 U.S. 1 (1911), was a case in which the Supreme Court of the United States found Standard Oil Co. of New Jersey guilty of monopolizing the petroleum industry through a series of abusive and anticompetitive actions.
What companies did Standard Oil break up into?
In 1911, following the Supreme Court ruling, Standard Oil was broken into seven successor companies; Standard Oil of New Jersey, Standard Oil of New York, Standard Oil of California, Standard Oil of Indiana, Standard Oil of Kentucky, The Standard Oil Company (Ohio), and The Ohio Oil Company.
What companies did Standard Oil become?
Standard Oil Company (New Jersey) changed its name to Exxon Corporation in 1972. British Petroleum Company PLC completed the purchase of Standard Oil Company (Ohio) in 1987, and in 1998 British Petroleum (renamed BP) merged with Amoco.
Who owns Standard Oil now?
Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil, Chevron Corp., and BP. BP acquired its rights through acquiring Standard Oil of Ohio and merging with Amoco and has a small handful of stations in the Midwestern United States using the Standard name.
Who broke up the Standard Oil trust?
Rockefeller
Rockefeller evaded the decision by dissolving the trust and transferring its properties to companies in other states, with interlocking directorates so that the same nine men controlled the operations of the affiliated companies.
What was Standard Oil Company of New Jersey v.united States?
Standard Oil Co. of New Jersey v. United States 221 U.S. 1 Standard Oil Co. of New Jersey v. United States () 173 Fed. Rep. 177, modified and affirmed.
What is the government’s policy on oil and gas?
The stated policy of the UK Government is to maximise the cost-effective recovery of UK resources. In response to the decline in production from the UKCS, the UK Government commissioned a review of the UK offshore oil and gas recovery and regulation led by Sir Ian Wood.
Who are the defendants in the Standard Oil case?
The Standard Oil Company of New Jersey and thirty-three other corporations, John D. Rockefeller, William Rockefeller, and five other individual defendants, prosecute this appeal to reverse a decree of the court below.
Why was the Sherman Antitrust Act passed in 1914?
In the early 1900s, the government used the act to break up John D. Rockefeller ‘s Standard Oil Company and several other large firms that it said had abused their economic power. In 1914, Congress passed two more laws designed to bolster the Sherman Antitrust Act: the Clayton Antitrust Act and the Federal Trade Commission Act.