John D Rockefeller

“It all starts with John D. Rockefeller (1839 – 1937) who was an oil magnate, a robber baron, America’s first billionaire, and a natural-born monopolist.

By the turn on the 20th century, he controlled 90% of all oil refineries in the U.S. through his oil company, Standard Oil, which was later on broken up to become Chevron, Exxon, Mobil etc.

Breakup of Standard OilAt the same time, around 1900, scientists discovered “petrochemicals” and the ability to create all kinds of chemicals from oil. For example, the first plastic — called Bakelite — was made from oil in 1907. Scientists were discovering various vitamins and guessed that many pharmaceutical drugs could be made from oil.

This was a wonderful opportunity for Rockefeller who saw the ability to monopolize the oil, chemical and the medical industries at the same time!”

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