Question

Think about Standard Oil's business practices. In three to four sentences, explain why there was such a strong negative feeling toward the Standard Oil monopoly.

Use details from the lesson and reading.

Answer 1

Standard Oil faced strong negative sentiment due to its monopolistic practices that stifled competition and harmed consumers. John D. Rockefeller's company used tactics such as aggressive underselling to drive competitors out of business and established a vast network of rebates and preferential rates from railroads, which further marginalized smaller rivals. Additionally, the lack of transparency and the perceived corruption in its dealings with government officials fueled public distrust. These actions ultimately led to the company's dissolution in 1911 as a result of antitrust sentiment and legal challenges, highlighting the widespread concern over corporate power and its impact on the economy and society.