Ed Pawlowski wrote:
On Sun, 24 Aug 2014 10:00:46 -0600, rbowman
wrote:
wrote:
I also bet Kerosene was pretty expensive in 19th or
early 20th
century dollars.
That is how the Rockefellers got so rich.
Kerosene was cheaper than whale oil, which had become too
expensive
for many people, and the price continued to drop.
Rockefeller had
the business ethics of a shark, but the growth of
Standard Oil
wasn't necessarily bad for the consumer, particularly in
the middle
of a price war. Even Ida Tarbell wasn't upset size and
efficiency of
Standard Oil, just the predatory tactics used by
Rockefeller.
A by-product of making good kerosene is gasoline and there
was no
market for it so much was dumped or burned off.
Rockefeller put money
into the development of the internal combustion engine we
use in cars
today.
He also built oil pipelines in order to save money the
railroads were
charging him to move oil by tanker truck.
Funny how some things never change. Their trying to build
the XL pipeline, but Warren Buffet(big bammy supporter)
doesn't want it because he makes money from shipping the oil
by his trains(BNR)