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Hiral Jain
Content writerย โขย 1y
Hey everyone, how's everyone doing today? (part 3) So, John and Clark invested in an oil business and built a refinery in Cleveland. Their unique idea of refining oil with sulfuric acid to create longer-lasting and brighter kerosene sets them apart in the market. The oil was given the nickname "BLACK GOLD." The volatile oil market saw prices fluctuate wildly due to demand and supply dynamics, sometimes selling for as low as 1 cent per barrel and other times fetching $12. Therefore they decided to only focus on refining the oil and this was the most profitable side venture. Uncertainty in the market led Clark to sell his business to John for a mere 72500$. Just as the deal was closing, a new oil reserve was discovered, relieving any fears of running out of oil. The business was coined as the Standard Oil Company and partnered with Flager, who shared his dedication to the business. However, Flager's ruthless approach, viewing business as a form of warfare, and so was adopted by John
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