In this lesson, you learned about the beginnings of the oil industry in Pennsylvania in the 1850s, the driving force for the early oil production, the key players, and the challenges and booms and busts. The emergence, role, and importance of Rockefeller and Standard Oil in the early development of the oil industry and cooperate structure in America were also discussed. You also learned about how one country, one state and one company dominated the early oil industry for many years. Finally, you were introduced to the international competitive oil industries to Standard Oil that emerged in Russia and the Dutch East Indies in the 1860s. The roles of key personalities such as the Nobels, Rothchilds, Samuels, and Kessler in making this competitive environment possible were also presented.
Time for the Lesson 1 Quiz!
You have finished Lesson 1. Once you are confident that you have reviewed the materials carefully and you have fully participated in the lesson discussion activity, you should be ready to take the Lesson 1 Quiz.
- Go to Canvas.
- Click on the Module tab.
- Scroll down to Lesson 1.
- Enter the "Lesson 1 Quiz" and begin!
- The format of the lesson quizzes is multiple choice questions. The quizzes will be based on the book, the online lesson notes, and videos. Quizzes typically are made available to take any time from Friday afternoon until the following Tuesday midnight EST.
Tell us about it!
Each week an announcement is sent out in which you will have the opportunity to contribute questions about the topics you are learning about in this course. You are encouraged to engage in these discussions. The more we talk about these ideas and share our thoughts, the more we can learn from each other.