Question

How did Standard Oil violate antitrust law?

Answer 1

7.9 The 1890 Sherman Antitrust Act
Congress passed this act in 1890, and this is the source of all American anti monopoly laws. The law forbids every contract, scheme, deal, conspiracy to restrain trade. It also forbids conspirations to secure monopoly of a given industry. The ideas were new and had to wait before they could achieve some efficiency. The Standard reorganized once more, in a holding in the Standard Oil Company (New Jersey) which now coordinated the whole machine, that is 70 companies and 23 refineries controlling 84% of the crude oil refined in the US in 1899. Ten years later, international competition (from Canada, Peru, Rumania, Poland, India or Russian) and the struggle of the independents lowered this percentage to 14 %. Theodore Roosevelt committed himself in 1901 and during both of his mandates to a strong war against monopolies, launching the federal government in 1906 in a lawsuit against the Standard because of discriminatory practices on the market, abuse of power and excessive control on the American oil industry.

Answer 2

A.It brought oil rights in unapproved states.
B.It used unfair practices that limited competition.
C.It cheated the government out of legitimate tax money.
D.It artificially increased oil prices.

@jabez177 @clayton4christ

Answer 3

Hmm

Answer 4

I think maybeeee C based in the earlier reply.

Answer 5

Yep ! That's the answer !

Answer 6

yeah i thought that too thanks! :D

Answer 7

That's all the gov cares about is mulah

Answer 8

True !

Answer 9

Everywhere I go...
I see @jabez177 and @Figureskater12 I mean... I know I need help... but.. I keep seeing you guys. Thanks for the footprints :D

Answer 10

Haha, My Jabez account is suspended, i'm on my sisters account. But yeah, no problem ! :D I'll reply from my other account.

Answer 11

@jabez177