From Competition to Monopoly

Adi Imsirovic ()
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Adi Imsirovic: The Oxford Institute for Energy Studies (OIES)

Chapter Chapter 4 in Trading and Price Discovery for Crude Oils, 2021, pp 39-54 from Springer

Abstract: Abstract Oil rush makes perfect competitionperfect competition. Producers rolling in cash. Speculationspeculation and overinvestment. First oil priceoil prices crash. RockefellerRockefeller, John D. and FlaglerFlagler, Henry: young, ambitious, and fearless. The Depression falling prices and profits. The plan to be the best and biggest. The South Improvement CompanySouth Improvement Company (SIC). Oil warsoil war of. Dissent in the Oil Regionthe oil region. Petroleum Producers’ Union and National Refiners’ AssociationNational Refiners’ Association. Railways, rebatesRebates and drawbacksdrawbacks. Endgame: The Standard OilStandard oil Trust, the ultimate monopoly. Death of the oil exchangesoil exchange(s).

Date: 2021
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DOI: 10.1007/978-3-030-71718-6_4

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