anna+minhyo+shinhee

**Who?** John D. Rockefeller


 * What?** He is a founder of the Standard Oil Company; he acquired barrel factories, oil fields, oil-storage facilities, pipelines and railroad tanker cars.


 * Where?** Cleveland


 * How?** Rockefeller entered the growing oil-refining industry in 1863. During its early years, the oil-refining industry was composed of numerous small, so the companies were very competitive. With this, Rockefeller decided to gain control of the industry.


 * Significant?** He owned companies that contributed to each stage of oil refining, so he was able to sell his oil for a cheaper price than his competitors. He had his own method, called “horizontal integration: 


 * When?** 1863



