Breaking Rockefeller

Breaking Rockefeller

The Incredible Story of the Ambitious Rivals Who Toppled An Oil Empire

Book - 2016
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At the height of the great oil boom of the 1870s-1880s, John D. Rockefeller was seemingly unstoppable. Capitalizing on the newly emerging industry that was changing the lives of people worldwide, Rockefeller eliminated his rivals to achieve near-total domination of the market. By 1889, he was at the peak of his power, having created one of the largest monopolies in history, so powerful that even the U.S. government was wary of challenging the great "anaconda" of Standard Oil. The Standard never loses--that is, until the unlikely duo of Marcus Samuel and Henri Deterding teamed up to form Royal Dutch Shell, and set the stage for the toppling of Standard Oil. This account of ambition, oil, and greed traces Samuel's rise from canny outsider to the heights of the British aristocracy, Deterding's conquest of America, and the collapse of Rockefeller's oil empire. Taking readers through the rough and tumble of East London's streets and the twilight turmoil of tsarist Russia to the halls of the British Parliament and right down New York's Broadway, international affairs expert Peter Doran offers a fresh perspective on how Samuel and Deterding beat the world's richest man at his own game.--Adapted from dust jacket.
"The author of the popular History of Oil podcast traces the early-20th-century rivalry between John D. Rockefeller's Standard Oil and Royal Dutch Shell, describing the origins of partners Marcus Samuel, Jr. and Henri Deterding and how they used respective talents to break Rockefeller's daunting monopoly"--
Publisher: New York, New York : Viking, [2016]
Copyright Date: ©2016
ISBN: 9780525427391
0525427392
9780698170773
Branch Call Number: 338.2 DORAN
Characteristics: xii, 337 pages, 8 unnumbered pages of plates : illustrations ; 24 cm

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StarGladiator
May 18, 2016

Mythology. Opinion masquerading as history. The author does mention some bits of interesting history, including the Samuel merchant family bio - - but in no way proves his overarching thesis - - simply repeats the usual drivel.
The author does explain that a panel of federal judges found that Standard Oil was a monopoly and must be dissolved, on Nov. 20, 1909 [the publication date, making it the law, was Nov. 22, please remember that date] - and he does mention that the Rockefeller Foundation was established in 1909, but fails to mention that in 1913 congress passed the oil depletion allowance, the Federal Reserve System enactment, and legislation establishing the financial structure of foundations.
The author DOES mention that Rockefeller became richer AFTER the breakup of Standard Oil [as the stock of the individual operating units was speculated upwards] - - but how could Rockefeller become richer if supposedly his monopoly had been ostensibly broken up????? The author never addresses this - - welcome to the World of Cognitive Dissonance!!!! Or mythology!
What the author doesn't state or grasp is that a whole bunch of foundations were created by the Rockefeller family, and holding companies with Standard Oil stocks were shifted over to them, Standard Oil was ONLY broken up on paper - - NOT FINANCIALLY!
[Sidebar: Fast forward to Oct. 16, 1963, when the last great, and real populist from Texas, Rep. Wright Patman, published his Patman Report [Tax-Exempt Foundations and Charitable Trusts: Their Impact on Our Economy], essentially explaining how the super-rich both hide their wealth and ownership within foundations and trusts, and use them to exert control over industry. This greatly aids President Kennedy in his quest to tax offshore monies and profits of the super-rich [they are already gunning for him for generating $4.3 billion in DEBT-FREE money [not payable to the bankers] into the economy under Executive Order 11110], and a little over a month later, on Nov. 22, 1963, JFK is murdered in Dallas. [At the end, it appears the purpose of this book was to overturn the Jones Act, the last vestige of the American Maritime industry.]

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