Standard Oil Co. of New Jersey v. United States

Standard Oil Co. Of New Jersey V. United States

Standard Oil Co. of New Jersey v. United States

to get instant updates about 'Standard Oil Co. Of New Jersey V. United States' on your MyPage. Meet other similar minded people. Its Free!

X 

All Updates


Description:
Standard Oil Co. of New Jersey v. United States, 221 U.S. 1 (1911), was a case in which the Supreme Court of the United States found Standard Oil guilty of monopolizing the petroleum industry through a series of abusive and anticompetitive actions. The court's remedy was to divide Standard Oil into several competing firms.

Allegations

By the 1880s, Standard Oil was using its stranglehold on refining capacity to begin integrating backward into oil exploration and crude oil distribution and forward into retail distribution of its refined products to stores and, eventually, service stations throughout the United States. Standard Oil allegedly used its size and clout to undercut competitors in a number of ways that were considered "anti-competitive," including underpricing and threats to suppliers and distributors who did business with Standard's competitors.

The government sought to prosecute Standard Oil under the Sherman Antitrust Act. The main issue before the Court was whether it was within the power of the Congress to prevent one company from acquiring numerous others through means that might have been considered legal in common law, but still posed a significant constraint on competition by mere virtue of their size and market power, as implied by the Antitrust Act.

Facts

Over a period of decades, the Standard Oil Company of New Jersey had bought up virtually all of the oil refining companies in the United States. Initially, the growth of Standard Oil was...
Read More

No feeds found

All
Posting your question. Please wait!...


No updates available.
No messages found
Suggested Pages
Zid
Zid
Tell your friends >
about this page
 Create a new Page
for companies, colleges, celebrities or anything you like.Get updates on MyPage.
Create a new Page
 Find your friends
  Find friends on MyPage from