Social Studies Middle School

John D. Rockefeller’s business in the 1860s was transporting petroleum products.Why did John D. Rockefeller create a barrel-making factory at the same time? A.He did not want to continue paying another company for barrels. B.He foresaw that oil might not remain a stable investment. C.He realized transporting oil in barrels would be faster than using pipelines. D.He wanted to set the price other oil companies had to pay for barrels.

Answers

Answer 1
D

Explanation
He wanted to destroy oil competition by lowering prices, by using something called predatory pricing, making his competitors having to lower prices or go out of business much like Amazon.
Answer 2

John D. Rockefeller create a barrel-making factory at the same time is he wanted to set the price other oil companies had to pay for barrels. The correct option is (D).

What are mean by the petroleum products?

Materials made from crude oil after it has been refined are known as petroleum products. Petroleum products are intricate mixes as opposed to petrochemicals, which are a collection of clearly defined, typically pure organic molecules.

Petroleum goods include things like gasoline, diesel fuel, home heating oil, and kerosene. The complex combinations that make up petroleum products are made from crude oil and share comparable chemical and physical characteristics. They include several additions in addition to hundreds of hydrocarbon compounds in various ratios.

The temperature and the makeup of any specific petroleum product affect how much of them volatilize. The majority of petroleum compounds smell strongly, pungently, like kerosene, and many of them are combustible.

Therefore, John D. Rockefeller create a barrel-making factory at the same time is he wanted to set the price other oil companies had to pay for barrels.

To know more about the petroleum products, visit:

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