ADMS 1010 Week 8 Oil Fall 2011

Around petrolia imperial oil dominates the oil and

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: oil industry •  In 1857 the first commercial oil well in the world was drilled in Enniskillen, Ontario •  A whole oil industry grew up around Petrolia Ontario •  Imperial Oil amalgamates numerous small refiners around Petrolia •  Imperial Oil dominates the oil and gas sector, controlling virtually the enKre Canadian market •  Ontario’s dominaKon is short lived – producKon in Petrolia declines by early 1900s Fall 2011 Jim Love ADMS 1010 5 Imperial Oil •  Largest player in Canada – a virtual monopoly •  Bought by Rockefeller’s Standard Oil Company in 1898 •  90% of the market in both companies •  Standard Oil is broken up in the US under anK- trust legislaKon •  Imperial Oil market share drops –  80% in 1920 –  60 % in 1930 –  50% in 1940 Fall 2011 Jim Love ADMS 1010 6 Oil •  Winston Churchill (then First Lord of BriKsh Admiralty) converts BriKsh Navy from Coal to Oil in 1912 •  Increased demand – Canada begins imporKng oil Fall 2011 Jim Love AD...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern