The History of the Standard Oil Company (Belt Revivals) by Ida Tarbell

The History of the Standard Oil Company (Belt Revivals) Reviews

• 
  T

  My reaction to this book was similar to how I felt after I watched "The Wolf of Wall Street": like I needed a long hot shower with lots of soap.
  
  Written in 1904 by Ida Mae Tarbell, a well-known muckraker journalist of the early 20th century (that's a good thing, by the way), this book describes the start of the oil industry and its eventual demise as a competitive industry due to the antics of a consortium led by John D. Rockefeller. The book covers the period of about 1830 - 1900.
  
  The first half of the book was very interesting from a historical perspective. From 1872 forward, it was numerous repetitions of various ways that JDR and the Standard Oil Company drove all competitors out of business and took over the transportation, refining and final market elements of the oil industry - and in the process ended up controlling the producers as well.
  
  This is a very thorough book written by an investigative journalist. A lot of detail.
• 
  Rohit Nair

  OK, so I skipped over the annexures. But this book is a must-read for any business student and also for any business journalism student. Beautifully researched and put-together, it more than fulfills what it says on the cover; a History of the Standard Oil Company is what you'll get, from the POV of a critical outsider. To really get a sense of what you're dealing with, you should read at least the wikipedia article on Standard Oil before starting this book. Here's something to get you started: Chevron, Exxon and Mobil were formed out of the break-up of the Standard. Enjoy!
• 
  Steph

  Warning: I´m originally from Oil Country, so I might be a bit biased in this review. I also love her-story, so there´s that influencing this review as well. All in all though, amazing skillful journalism against all powerful big business.
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  Dennis Garone

  After reading “TITAN” the continuous mention of Ids M Tarbell’s investigative work piqued my interest. I purchased a re-publish of the 2 volumes which were originally published in 1904.
  
  While the trusts of the late 19th Century were rampant in the US, Tarbell chose the biggest, most dynamic trust to investigate.
  
  She writes a detailed account of the practices of John D Rockefeller and his Standard Oil trust delving into testimony, records, minutes from meeting to paint a picture of how one man or a small group of men can find success and then turn that success into a competition killer and negotiate with the railroads to only their benefit.
  
  We have the ability to know what happened later as the trust was forced to break up but it’s amazing how much wealth Rockefeller amassed not only for himself but his stockholders etc.
  
  Be prepared for a lesson in markets and supply and demand.
• 
  Belle Meade School

  338.76655
• 
  SHNILA PARVEEN

  One of the pioneers of investigative journalism aka Muckraking, this compilation of articles written by Ida Tarbell for McClure, shredding Standard Oil Company and John Rockefeller's monopolistic business practice is a magnificent work.
  
  By the beginning of 20th century, the anti-competitive practices of businesses across various industries had already started drawing flak from the nation and Government authorities. A definitive push came in the form of series of the articles written by Ida Tarbell, which was a prominent contributing factor in the eventual dissolution of the Standard Oil trust in 1911. The articles completed the transformation of public image of John Rockefeller as a national villain.
  
  On closer perusal of the articles it becomes evident that Ida Tarbell did not write the articles to demonize Rockefeller. Her work is based on detailed research, court transcripts and personal interviews. It would be in incorrect to say that the author presented her views with a prejudice since the due credit has been accorded to Standard Oil for its business acumen and reprimand to producers association for their continued lack of good judgment.
  
  At the hindsight, we now know that Standard Oil was the monopoly which worked among several other attempted combinations of various sorts which did not work due to greed and lesser acumen of its participants. It is interesting to read how the role of railways in unfair business practices was downplayed, while all the focus of hatred was channelized to Standard Oil.
  
  Ida Tarbell has brilliantly argued that the object does not justify the means, that just by saying "it is business" does not write off all immoral, unlawful, anti-competitive and unfair activities to earn profits. All the rationale for the activities purported to be for the good of oil industry, price stability, foreign market and everything else does not account for the wrongs inflicted on countless number of small competitors driven out of the business.
  
  We will never know what would have been the state of oil industry without the monopolistic years of Standard Oil. History has shown us that such huge amount untethered power always leads to promotion of self-interest at the expense of others. We will also never know what would have become of the Standard Oil if the trust was not dissolved. We do know that the off-springs of the slain dragon, continue to breathe fire to this day in form of Exxon, Mobil, Chevron and others.
  
  This book gives a good view of the early years of the oil industry in US but does not go beyond that for obvious reasons. The story of oil, with or without Standard Oil trust, continues to be full of turmoil. It is good supplement to get a holistic view of the study of oil and energy. For readers interested in Oil, I would strongly recommend the truly seminal work by Daniel Yergin in his book the Prize.
• 
  Järvi

  Great journalism. It is interesting that Rockefeller is classified as philanthropist - where is the public good when money is raked in literally over dead bodies and some crumbs are given out as hush payments? Psychopath is much better description, however not used by Tarbell. She tries to report facts and give credit to this hero for his patience and foresight. Unfortunately - as it is real life and not a fairy rale - it does not have a happy end. Good does not win over evil. Rockefeller's principles—hide the profits, say nothing, kill competition - were (are) the winning formula. BigOil was cruel and destructive but then his "philathrophic" money created Big Pharma. "Material prosperity is usually benumbing in its effects."
  
  Oh, and what was not yet defined at the time of writing this book: "Rockefeller, the monopolist, had to figure out a way to get rid of his biggest competition. So he used the classic strategy of “problem-reaction-solution.” That is, create a problem and scare people, and then offer a (pre-planned) solution. (Similar to terrorism scare, followed by the “Patriot Act”)."
  
  The moral of the story is - people can fight injustice when they cooperate and they loose out trying to outwit others for own short-term benefit
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  Sherry

  Didn't finish. It held my attention well until it got into the court cases. Then I was done.
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  Jim

  A deep read that requires quiet and time for concentration. Still, it is more than mere history as there is a modern relevance to the tale.
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  Joanna Ganning

  Dry but essential in US economic history