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| Topic: |
History
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| Number of pages / Number of words: |
10 / 2565 |
Essay's paper body
The processes for oil extraction were very crude and the operators of the wells knew nothing of how to manage the business aspects. So much oil was spilled and ended up in the streams and ponds that young children known as "oil dippers" were making as much as $25 or $30 per day skimming oil off the top of the water near the oil fields...
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Rockefeller helped finance an oil refinery in Cincinnati after noticing that a gallon of kerosene sold for twice the price of a barrel of crude oil. Rockefeller was able to establish the Standard Oil Company and by 1870 had two large refineries. However, the refineries were primarily looking to extract just the kerosene, what was used in the oil lamps to provide people with cheep light...
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