In the 1800s, there were several businesses known as trusts. These “trusts” owned the entire industry. Railways, sugar, oil and steel were some of the major products controlled by these trusts. US Steel and Standard Oil were two large corporations famous for the control of 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 formed by John D. Rockefeller in Ohio in 1870. At the time, the refining business was highly competitive, and Standard Oil had more than 250 competitors. Rockefeller and his associates took advantage of both the scarcity of oil and the returns it produced to establish a monopoly, without the help of the banks. The industrial practices and questionable strategy that Rockefeller used to found Standard Oil shamed Enron's masses, but the completed product was not as bad for the market or the environment as the industry was before Rockefeller monopolized it. of oil companies competing to get the most out of their discoveries. Companies would pump the waste products into rivers or onto the ground because it costs too much to research how to dispose of them properly. They also cut costs by pumping through substandard pipelines, notorious for leaks. Eventually Standard Oil owned 90% of the oil production and distribution in the United States and had learned to profit from its waste products. Vaseline was one of many new products formed. Andrew Carnegie did much to create a monopoly in the steel industry US Steel, a gigantic corporation that almost reached the size of Standard Oil. US Steel……at the center of the document……rman+ActAntitrust: an overview. ANTITRUST. Institute of legal information. 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_ActHerbert Hovenkamp. Clayton Law (1914). Enote. Major Congressional Proceedings, ©2004 Gale Cengage. http://www.enotes.com/clayton-act-1914-reference/clayton-act-1914Herbert Hovenkamp. Federal Trade Commission Act (1914). Enote. Main 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). Enote. Major Congressional Proceedings, ©2004 Gale Cengage. http://www.enotes.com/sherman-antitrust-act-1890-101422-reference/sherman-antitrust-act-1890