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Hiral Jain
Content writer • 1y
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!
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