In the 1800s, there were several companies known as trusts. These “trusts” owned the entire industry. Railroads, sugar, oil and steel were among the main products controlled by these trusts. US Steel and Standard Oil were two large companies known for controlling their products and the industry they were a part of. The oil industry was an easy industry to monopolize because deposits were rare. The Standard Oil Company was incorporated by John D. Rockefeller in Ohio in 1870. At the time, the refining industry was very competitive and Standard Oil had more than 250 competitors. Rockefeller and his associates took advantage of both the scarcity of oil and the revenues he earned from it to establish a monopoly, without help from the banks. The industrial practices and questionable strategy that Rockefeller used to create Standard Oil put Enron's masses to shame, but the finished product was not as harmful to the market or the environment as the industry had been before that Rockefeller does not monopolize it. oil companies competing to get the most out of their discoveries. Companies dumped their waste into rivers or onto the ground because it cost too much research on how to dispose of it properly. They also cut costs by pumping through poor pipes notorious for seepage. Standard Oil eventually owned 90% of the production and distribution of oil in the United States, and they had learned to make money from their waste. Vaseline was one of many new products created. Andrew Carnegie went a long way in creating a monopoly in the US Steel industry, a gigantic corporation almost the size of Standard Oil. US Steel ...... middle of document ......rman+ActAntitrust: an overview. ANTITRUST. Legal Information Institute. Cornell University School of Law. http://www.law.cornell.edu/wex/AntitrustSherman Antitrust Law. LawBrain. http://lawbrain.com/wiki/Sherman_Anti-Trust_ActClayton Act. LawBrain. http://lawbrain.com/wiki/Clayton_Act Herbert Hovenkamp. Clayton Act (1914). Enotes. Major proceedings of the Congress, ©2004 Gale Cengage. http://www.enotes.com/clayton-act-1914-reference/clayton-act-1914Herbert Hovenkamp. Federal Trade Commission Act (1914). Enotes. Major proceedings of the Congress, ©2004 Gale Cengage. http://www.enotes.com/federal-trade-commission-act-1914-100734-reference/federal-trade-commission-act-1914Herbert Hovenkamp. Sherman Antitrust Act (1890). Enotes. Major proceedings of the Congress, ©2004 Gale Cengage. http://www.enotes.com/sherman-antitrust-act-1890-101422-reference/sherman-antitrust-act-1890