Week 5 Study Guide

Week 5 Study Guide - INTB 3351 History of Globalization...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
INTB 3351 History of Globalization Reading Study Guide Readings: Daniel Yergin, The Prize , pp. 33-55 1. In what part of the petroleum business did John D. Rockefeller get his start? Why that part and not others? (pp. 37-39) Refinery Oil. He was in the downstream part. The upstream part was disorganized and hard to do. He strengthens his business by expanding facilities and striving to maintain and improved quality and controlling the costs. For example, he bought the land which grew white oak timber to make the barrels for his oil rather than buying the barrels from other places. He also has his own tank cars, warehouses and boats on the Hudson River which were used to transport his oil. 2. How did Rockefeller and Standard Oil bring “order” to the oil industry and limit “destructive competition”? What was “Our Plan”? (pp. 39-47) He uses the “Knock Out Competition” plan. He would buy out any oil business for himself and added it to Standard Oil. None of the small oil business can compete with Standard Oil.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Week 5 Study Guide - INTB 3351 History of Globalization...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online