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Hiral Jain

Content writer • 11m

Hey there! Stop and read the story of the ruthless world's first billionaire! (p-4) The oil market is becoming overcrowded and the secret of preparing kerosene is out. With no usp they decide to form alliances and kill their competition. At that time, oil is mainly transported by railways, by ERIE, NY CENTRAL, and PENNSYLVANIA (p), with p being the biggest. It's easy for 'p' to transport oil from Pennsylvania to NY and nearby places rather than Cleveland. So they stop their business there. Other owners decide to leave, but not all. While many left Cleveland, J&Fspot an opportunity. They strike deals with the other railroads. They offer ERIE a continuous oil transport in exchange for a whopping 75% rebate, and they pay NYCENTRAL less than the actual costs, reducing it from $2 per barrel to $1. The desperation leads to both deals being sealed in secrecy. With continuous orders from STANDARD OIL, The only ones left in the dust are 'p' railroads and STANDARD OIL's competitors! Byeee!

3 replies5 likes

Replies (3)

Sajin
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Foundation • 11m

Rockefeller story?

1 replies

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Hiral Jain

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Hey there! Ready for the John and Flagler again! (p-5) As we have seen J&F cracked deals with both railroads and both parties were in a win-win situation. The only parties who were at a loss were P Railroads and the competitors of Standard Oil. Now

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Hiral Jain

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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

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Hiral Jain

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Hey everyone, it's awesome to be back with you. [this post is a continuation of a previous post, check that out before] You all remember young John, right? He wasn't fazed when his old company shut down. With enough savings and a partner named Clark

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As the chances of global recession is high Oil prices crashed to 62 dollars .Good news for Oil companies they will earn more now . Let's hope it will give some relief to the public. Feb- 79/barrel April- 62/barrel💥

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