10. Leaning towards Standard Oil following the Civil War
The Rockefeller refineries made Cleveland, Ohio, one of the critical oil refining centers in the United States, joining Pittsburgh, New York City, and the oil fields of western Pennsylvania. The success of the refineries created a glut of kerosene on the market, far more than was necessary annually to meet demand, driving the price down. By 1870 there was more than three times the needed kerosene available on the market, an excess which showed no inclination to shrink in the foreseeable future. Rockefeller responded to the market conditions by dissolving the partnership, forming a new corporation which he named Standard Oil. His former partners remained with the company, but there was no doubt that the business was in the hands of John D. Rockefeller.