Shane Parrish
speaker
20,679 appearances
49 recordings
3 series
first heard May 2025
last heard 15 Sep
Shane Parrish’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 30 in all, peaking in Jan 2026 with 4.
Appearances
Standard had the largest cash reserves, the lowest costs, and massive storage capacity to buy out his struggling competitors for pennies on the dollar.
And seeing the news, Rockefeller even cut their dividend to pile up more cash.
Refiners who had held out against him in good times simply couldn't during this slump.
And when the cash did grow scarce, Standard could simply pay with its own stock.
After the Cleveland Massacre, the Standard Oil Consortium went national, and it went fast.
In the summer of 1874, Rockefeller invited two prominent oil refiners to meet him and Henry Flegler at Saratoga.
The men were William Worden from Philadelphia and Charles Lockhart from Pittsburgh.
They had breakfast together, then they talked for six hours in a pavilion while resort guests strolled outside.
Rockefeller laid out what he'd already done in Cleveland.
In the last year alone, he told them that he'd shipped over 700,000 barrels and earned over a million dollars.
He showed them his books, and then he made his pitch.
Wharton and Lockhart would transfer their Philadelphia and Pittsburgh refineries to him in exchange for standard oil stock.
They would both come work for him, and he would in turn start absorbing their neighboring refineries as rapidly as persuasion or other means could bring it about.
They would keep the same names on all the doors.
Nobody outside that room would know.
Wharton and Lockhart agreed.
Next, in October 1874, Standard brought in Charles Pratt & Company of New York, the New York oil company.
New York had the best market for oil and was the gateway to the world's exports.
It was the last major piece of the puzzle.
Fully nine of ten barrels of oil refined in the United States was now passing through Standard Oil.
Showing 1661–1680 of 20,679 · page 84 of 1034
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