How did John D. Rockefeller gain control of the oil industry?

a
He formed a trust
b
He practiced free trade
c
He joined a cartel
d
He practiced vertical consolidation

1 answer

John D. Rockefeller gained control of the oil industry primarily by forming a trust. Therefore, the correct answer is:

a. He formed a trust

Rockefeller created the Standard Oil Trust in the 1880s, which allowed him to consolidate and control a large portion of the oil refining industry in the United States. This strategy helped him eliminate competition and dominate the market.