1
00:00:01,578 --> 00:00:05,313
Narrator: WHEN OIL IS DISCOVERED
IN AMERICA IN 1859...
2
00:00:05,416 --> 00:00:07,382
GENTLEMEN,
WE'RE GONNA BE RICH!
3
00:00:07,484 --> 00:00:10,719
...IT TRIGGERS
AN EXPLOSIVE CHAIN OF EVENTS...
4
00:00:10,821 --> 00:00:13,588
THERE WERE ENORMOUS
OPPORTUNITIES TO MAKE MONEY.
5
00:00:13,690 --> 00:00:17,259
Narrator:
...THAT SETS THE WORLD ON FIRE.
6
00:00:17,361 --> 00:00:20,429
TWO AMERICAN TITANS,
THOMAS A. SCOTT...
7
00:00:20,564 --> 00:00:23,365
WE'RE IN THE PRIME SPOT.
WE NEED TO STAY THAT WAY.
8
00:00:23,467 --> 00:00:25,300
Narrator:
...AND JOHN D. ROCKEFELLER...
9
00:00:25,402 --> 00:00:28,270
GENTLEMEN, I SEE A GREAT FORTUNE
AHEAD OF US.
10
00:00:28,372 --> 00:00:30,005
Narrator:
...BATTLE FOR CONTROL.
11
00:00:30,107 --> 00:00:32,007
Nelson:
IT'S ASTONISHING WHAT HAPPENS.
12
00:00:32,109 --> 00:00:37,579
IT'S THE BLOODIEST LABOR
CONFLICT IN AMERICAN HISTORY.
13
00:00:37,681 --> 00:00:41,516
Narrator:
ONE WILL BE DESTROYED.
14
00:00:41,618 --> 00:00:44,619
THE OTHER BECOMES
THE WORLD'S RICHEST MAN.
15
00:00:44,721 --> 00:00:46,154
TAKE STANDARD OIL STOCK,
16
00:00:46,256 --> 00:00:49,791
AND YOUR FAMILY
WILL NEVER KNOW WANT.
17
00:00:49,893 --> 00:00:53,395
THESE ARE THE EPIC STORIES
18
00:00:53,497 --> 00:00:58,033
OF MEN STRUGGLING FOR SUPREMACY,
BUILDING EMPIRES,
19
00:00:58,135 --> 00:01:03,271
AND CHANGING THE COURSE
OF AMERICAN HISTORY FOREVER.
20
00:01:03,373 --> 00:01:06,274
-- Captions by VITAC --
www.vitac.com
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00:01:06,376 --> 00:01:09,244
CAPTIONS PAID FOR BY
DISCOVERY COMMUNICATIONS
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00:01:09,346 --> 00:01:11,546
¶¶
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IN THE HILLS OF TITUSVILLE,
PENNSYLVANIA,
24
00:01:21,792 --> 00:01:24,292
EDWIN DRAKE IS ON A MISSION...
25
00:01:24,394 --> 00:01:27,162
[ AIR HISSING ]
26
00:01:27,264 --> 00:01:29,097
...DRILLING FOR CRUDE OIL.
27
00:01:29,199 --> 00:01:31,233
¶¶
28
00:01:42,179 --> 00:01:45,680
AFTER MONTHS OF TOIL,
HE STRIKES IT RICH.
29
00:01:45,782 --> 00:01:47,315
[ LAUGHS ]
30
00:01:47,417 --> 00:01:48,583
[ WHISTLE BLOWS ]
31
00:01:48,685 --> 00:01:51,186
[ LAUGHING ]
32
00:01:51,288 --> 00:01:54,756
Yergin: WHEN EDWIN DRAKE STRUCK
OIL, IT WAS LIKE A GOLD RUSH.
33
00:01:54,825 --> 00:01:56,892
BUT IT WAS EVEN MORE
THAN A GOLD RUSH.
34
00:01:56,994 --> 00:01:59,161
YEAH!
35
00:01:59,263 --> 00:02:02,197
IT WAS SOMETHING
THAT WOULD TRANSFORM THE WORLD.
36
00:02:02,299 --> 00:02:03,832
Man:
CAN I SEE IT AGAIN?
37
00:02:03,934 --> 00:02:05,500
GENTLEMEN,
WE'RE GONNA BE RICH.
38
00:02:05,602 --> 00:02:06,835
[ MEN CHEERING ]
39
00:02:06,937 --> 00:02:10,472
WHAT EDWIN DRAKE DID WAS
REVOLUTIONARY, 'CAUSE HE PROVED
40
00:02:10,574 --> 00:02:14,042
THAT YOU COULD DRILL FOR
THIS SUBSTANCE CALLED ROCK OIL,
41
00:02:14,144 --> 00:02:15,810
AND YOU COULD TURN IT
INTO A PRODUCT
42
00:02:15,913 --> 00:02:17,312
THAT THE WHOLE WORLD WANTED.
43
00:02:17,414 --> 00:02:19,014
[ MEN CHEERING, LAUGHING ]
44
00:02:19,116 --> 00:02:23,985
Narrator: THE PRODUCT THAT WILL
CHANGE EVERYTHING IS KEROSENE.
45
00:02:24,087 --> 00:02:26,755
UP UNTIL KEROSENE,
THE ONLY LIGHT PEOPLE HAD
46
00:02:26,857 --> 00:02:30,692
WAS EITHER FROM A FIREPLACE
OR FROM VERY FAINT CANDLES.
47
00:02:30,794 --> 00:02:33,395
¶¶
48
00:02:33,497 --> 00:02:36,198
SUDDENLY, YOU HAD
THIS RELIABLE, STEADY LIGHT.
49
00:02:36,300 --> 00:02:39,334
AND IT LIT THE PEOPLE'S LIVES,
50
00:02:39,436 --> 00:02:41,503
AND IT REALLY
PUSHED BACK DARKNESS.
51
00:02:41,605 --> 00:02:44,306
¶¶
52
00:02:48,145 --> 00:02:50,745
Narrator: IN CLEVELAND,
A YOUNG ENTREPRENEUR
53
00:02:50,847 --> 00:02:55,383
SEES FIRSTHAND THE POTENTIAL
OF DRAKE'S DISCOVERY.
54
00:02:55,485 --> 00:03:00,855
HIS NAME IS JOHN D. ROCKEFELLER.
55
00:03:00,958 --> 00:03:03,758
Nelson: ROCKEFELLER IS IN
THE COMMISSION BUSINESS.
56
00:03:03,860 --> 00:03:05,227
THE COMMISSION BUSINESS MEANS
57
00:03:05,329 --> 00:03:07,162
SHIPPING ANYTHING
THAT AN ARMY NEEDS
58
00:03:07,264 --> 00:03:10,999
OR ANYTHING THAT A MERCHANT
NEEDS IN A COUNTRY STORE.
59
00:03:11,101 --> 00:03:12,467
[ INDISTINCT CONVERSATIONS ]
60
00:03:12,569 --> 00:03:14,636
Yergin: BUT BY THEN
THE WORD WAS GETTING OUT
61
00:03:14,738 --> 00:03:16,771
THAT THERE WAS THIS NEW BUSINESS
CALLED OIL.
62
00:03:16,873 --> 00:03:18,940
AND THAT'S WHAT CAUGHT
HIS IMAGINATION.
63
00:03:19,042 --> 00:03:21,109
¶¶
64
00:03:21,211 --> 00:03:24,412
Narrator: IN PITTSBURGH,
THOMAS A. SCOTT HAS BECOME
65
00:03:24,514 --> 00:03:27,082
ONE OF AMERICA'S
MOST POWERFUL BUSINESSMEN
66
00:03:27,184 --> 00:03:28,750
THROUGH CLEVER INVESTING.
67
00:03:28,852 --> 00:03:31,319
Nelson: TOM SCOTT HAS
COPPER MINES AND GOLD MINES.
68
00:03:31,421 --> 00:03:33,822
HE'S INTERESTED IN OIL.
HE'S INTERESTED IN WHEAT.
69
00:03:33,924 --> 00:03:36,658
HE'S INTERESTED IN COAL,
ALL OF THESE THINGS.
70
00:03:36,760 --> 00:03:40,762
Narrator:
SCOTT IS ALSO VICE PRESIDENT
OF THE PENNSYLVANIA RAILROAD,
71
00:03:40,864 --> 00:03:43,398
AMERICA'S BIGGEST COMPANY.
72
00:03:43,500 --> 00:03:46,568
Nelson: TOM SCOTT'S VISION IS TO
MAKE THE PENNSYLVANIA RAILROAD
73
00:03:46,670 --> 00:03:49,604
THE THROUGH POINT
FOR ALL OF THESE GOODS.
74
00:03:49,706 --> 00:03:52,073
HE WANTS TO MAKE SURE THAT
THINGS ARRIVE IN PITTSBURGH
75
00:03:52,175 --> 00:03:53,875
AND THEN GET FINISHED
IN PITTSBURGH...
76
00:03:53,977 --> 00:03:56,878
WE'RE IN THE PRIME SPOT.
WE NEED TO STAY THAT WAY.
77
00:03:56,980 --> 00:03:58,880
Nelson: ...THEN MAKE IT
AS EXPENSIVE AS POSSIBLE
78
00:03:58,982 --> 00:04:01,016
FOR THOSE GOODS TO FLOW
FROM PITTSBURGH ELSEWHERE.
79
00:04:01,118 --> 00:04:03,285
AND THAT'S HOW HE'S GONNA
MAKE HIS PROFIT.
80
00:04:03,387 --> 00:04:06,621
¶¶
81
00:04:06,723 --> 00:04:08,089
Narrator: IN TITUSVILLE,
82
00:04:08,191 --> 00:04:11,860
DRAKE'S DISCOVERY
SPARKS A FULL-BLOWN OIL RUSH.
83
00:04:14,498 --> 00:04:16,698
SENSING AN OPPORTUNITY,
84
00:04:16,800 --> 00:04:21,536
JOHN D. ROCKEFELLER COMES TO THE
OIL REGION IN THE EARLY 1860s.
85
00:04:21,638 --> 00:04:23,772
¶¶
86
00:04:29,946 --> 00:04:31,146
Drake:
MORE BUCKETS, MEN.
87
00:04:31,248 --> 00:04:33,214
Man: MR. DRAKE,
THERE ARE NO MORE BUCKETS.
88
00:04:33,317 --> 00:04:34,883
[ INDISTINCT CONVERSATIONS ]
89
00:04:34,985 --> 00:04:36,584
EMPTY THE ASH CAN.
90
00:04:36,687 --> 00:04:39,954
Narrator: ROCKEFELLER
DOESN'T LIKE WHAT HE SEES.
91
00:04:40,057 --> 00:04:44,926
HE LOOKED AT THE OIL REGION AND
WAS REPELLED BY THE CHAOS OF IT.
92
00:04:45,028 --> 00:04:47,996
¶¶
93
00:04:48,098 --> 00:04:49,831
[ SIGHS ]
94
00:04:49,933 --> 00:04:51,499
WHAT WASTE.
95
00:04:54,871 --> 00:04:58,740
Yergin: HE WAS ALSO REPELLED
BY THE AMORALITY OF IT --
96
00:04:58,842 --> 00:05:01,242
THE ALCOHOL, THE PROSTITUTES,
97
00:05:01,345 --> 00:05:05,847
THE SENSE OF
THE WILD UP-AND-DOWN BEHAVIOR.
98
00:05:05,949 --> 00:05:08,483
McElwee: HE DID NOT CONSIDER
THESE MEN WELL-EDUCATED.
99
00:05:08,585 --> 00:05:10,785
THEY WEREN'T.
THEY WERE DRIFTERS.
100
00:05:10,887 --> 00:05:13,021
THEY WERE PEOPLE
LOOKING FOR A FORTUNE.
101
00:05:13,123 --> 00:05:14,923
¶¶
102
00:05:15,025 --> 00:05:17,759
Narrator: ROCKEFELLER WANTS
TO CASH IN ON THE BOOM.
103
00:05:17,861 --> 00:05:19,594
IT MAY NOT AFFECT
THEIR BOTTOM LINE,
104
00:05:19,696 --> 00:05:21,496
BUT IT CERTAINLY
AFFECTS MINE.
105
00:05:21,598 --> 00:05:25,400
BUT INSTEAD OF SEEING PROFITS,
HE SEES PROBLEMS.
106
00:05:25,502 --> 00:05:28,336
IF I AM TO INVEST IN OIL,
I'LL DEVISE A FAR BETTER METHOD
107
00:05:28,438 --> 00:05:31,639
OF TRANSPORTATION
FROM THE FIELDS.
108
00:05:31,742 --> 00:05:34,242
THE BIGGEST HURDLE
FACING THE INDUSTRY
109
00:05:34,344 --> 00:05:37,178
IS MOVING OIL
FROM ONE PLACE TO ANOTHER.
110
00:05:37,280 --> 00:05:40,148
¶¶
111
00:05:40,250 --> 00:05:42,250
TOM SCOTT KNOWS THE SOLUTION...
112
00:05:42,352 --> 00:05:44,652
[ INDISTINCT CONVERSATIONS ]
113
00:05:44,755 --> 00:05:47,622
...RAIL.
114
00:05:47,724 --> 00:05:49,257
COME, NOW!
115
00:05:49,359 --> 00:05:51,059
BE QUICK ABOUT IT.
116
00:05:51,161 --> 00:05:53,528
Nelson: TOM SCOTT SEES
THE RAILROAD IN EVERYTHING.
117
00:05:53,630 --> 00:05:54,696
FOR HIM, THE RAILROAD
118
00:05:54,798 --> 00:05:57,265
IS THE BEGINNING AND THE END
OF THE WORLD.
119
00:05:57,367 --> 00:06:01,169
Narrator: IN THE EARLY 1860s,
CRUDE OIL TRAVELS BY BARGE
120
00:06:01,271 --> 00:06:04,072
TO THE EPICENTER
OF THIS EXPLODING INDUSTRY --
121
00:06:04,174 --> 00:06:05,407
PITTSBURGH.
122
00:06:05,509 --> 00:06:08,009
THERE, IT'S REFINED
INTO KEROSENE
123
00:06:08,111 --> 00:06:10,712
AND HEADS OUT TO MARKET
ON TOM SCOTT'S TRAINS.
124
00:06:10,814 --> 00:06:12,013
[ INDISTINCT CONVERSATIONS ]
125
00:06:12,115 --> 00:06:14,249
Nelson: HE'S GONNA MAKE IT
AS CHEAP AS POSSIBLE
126
00:06:14,351 --> 00:06:16,317
TO GET ALL THE GOODS
TO COME TO PITTSBURGH,
127
00:06:16,420 --> 00:06:18,286
AND THEN MAKE IT
AS EXPENSIVE AS POSSIBLE
128
00:06:18,388 --> 00:06:20,655
FOR THOSE GOODS TO FLOW
FROM PITTSBURGH ELSEWHERE.
129
00:06:20,757 --> 00:06:22,657
AND THAT'S HOW
HE'S GONNA MAKE HIS PROFIT.
130
00:06:22,759 --> 00:06:24,492
McElwee:
WANTED IT TO REMAIN THAT WAY
131
00:06:24,594 --> 00:06:27,495
BECAUSE HE'S THE ONLY RAILROAD
WHO SERVED PITTSBURGH.
132
00:06:27,597 --> 00:06:29,497
HE HAD IT LOCKED UP.
133
00:06:29,599 --> 00:06:32,967
¶¶
134
00:06:33,069 --> 00:06:37,572
Narrator: IT'S A BATTLE
BETWEEN SCOTT IN PITTSBURGH...
135
00:06:37,674 --> 00:06:39,641
AND ROCKEFELLER IN CLEVELAND.
136
00:06:39,743 --> 00:06:41,776
GET THESE OIL BARRELS
LOADED, MEN.
137
00:06:41,878 --> 00:06:42,777
-GOT IT?
-YEP.
138
00:06:42,879 --> 00:06:44,846
ONE, TWO, THREE.
139
00:06:44,948 --> 00:06:47,449
Nelson: ROCKEFELLER UNDERSTANDS
THAT CHEAP LIGHT
140
00:06:47,551 --> 00:06:50,318
IS THE THING THAT HE'S GONNA
BRING TO THE REST OF THE WORLD.
141
00:06:50,420 --> 00:06:52,387
MAURICE,
OIL IS TREATING US BETTER
142
00:06:52,489 --> 00:06:54,055
THAN ANY OF OUR
OTHER COMMODITIES.
143
00:06:54,157 --> 00:06:56,391
OH, AND HE THINKS
THAT OIL, JUST OIL,
144
00:06:56,493 --> 00:06:59,294
IS GONNA MAKE A FORTUNE FOR HIM.
145
00:06:59,396 --> 00:07:02,597
Narrator:
THEN, ON APRIL 12, 1861,
146
00:07:02,699 --> 00:07:05,033
AN EVENT
THAT CHANGES EVERYTHING.
147
00:07:05,135 --> 00:07:07,435
¶¶
148
00:07:07,537 --> 00:07:09,204
FORCES FROM THE SOUTHERN STATES
149
00:07:09,306 --> 00:07:12,040
FIRE ON FORT SUMTER,
SOUTH CAROLINA,
150
00:07:12,142 --> 00:07:15,210
IGNITING THE CIVIL WAR.
151
00:07:15,312 --> 00:07:18,346
EVEN WHILE THE CIVIL WAR
WAS RAGING,
152
00:07:18,415 --> 00:07:20,448
YOU HAD THIS BOOM ACTIVITY
GOING ON
153
00:07:20,550 --> 00:07:23,384
IN WESTERN PENNSYLVANIA
AT THE SAME TIME.
154
00:07:23,487 --> 00:07:24,719
[ GUNSHOTS ]
155
00:07:24,821 --> 00:07:26,821
[ MEN SHOUTING, HORSE NEIGHS ]
156
00:07:26,923 --> 00:07:29,691
Narrator: AS THE NATION
DESCENDS INTO TURMOIL,
157
00:07:29,793 --> 00:07:32,327
TWO INDUSTRIES EXPLODE --
158
00:07:32,429 --> 00:07:35,029
OIL AND RAIL.
159
00:07:35,131 --> 00:07:37,699
Nelson: TOM SCOTT IMAGINED
THE PENNSYLVANIA RAILROAD
160
00:07:37,801 --> 00:07:40,301
AS A WORLD-GIRDLING ENTERPRISE.
161
00:07:40,403 --> 00:07:41,503
ONCE THE CIVIL WAR STARTS,
162
00:07:41,605 --> 00:07:43,605
HE SEES IT AS SOMETHING
THAT'S GONNA CONNECT
163
00:07:43,707 --> 00:07:45,473
THE MISSISSIPPI RIVER
TO THE EAST COAST
164
00:07:45,575 --> 00:07:47,909
AND THEN THE EAST COAST
TO THE WEST COAST.
165
00:07:48,011 --> 00:07:50,044
HIS VISION IS
THAT THE PENNSYLVANIA RAILROAD'S
166
00:07:50,146 --> 00:07:51,646
GONNA BE THE CENTER
OF THE WORLD,
167
00:07:51,748 --> 00:07:53,948
THE KIND OF MAIN LINE
OF AMERICA.
168
00:07:54,050 --> 00:07:56,251
[ TRAIN WHISTLE BLOWING ]
169
00:07:56,353 --> 00:07:59,787
¶¶
170
00:07:59,890 --> 00:08:03,091
Narrator: ROCKEFELLER
SEES THINGS DIFFERENTLY --
171
00:08:03,193 --> 00:08:06,995
THAT THE REAL MONEY WILL FLOW
FROM A NEW INDUSTRY,
172
00:08:07,097 --> 00:08:09,864
THE DARK ART OF OIL REFINING.
173
00:08:09,966 --> 00:08:12,667
¶¶
174
00:08:12,769 --> 00:08:17,939
IN 1863, THE OPPORTUNITY
HE'S BEEN WAITING FOR ARRIVES.
175
00:08:18,041 --> 00:08:21,376
Andrews: GENTLEMEN, GENTLEMEN,
MAY I HAVE A WORD?
176
00:08:21,478 --> 00:08:24,412
SAMUEL ANDREWS
CAME INTO ROCKEFELLER'S LIFE
177
00:08:24,514 --> 00:08:26,147
WHEN ROCKEFELLER WAS A PARTNER
178
00:08:26,249 --> 00:08:28,082
OF THE CLARK BROTHERS
IN CLEVELAND.
179
00:08:28,184 --> 00:08:31,185
GENTLEMEN, I'VE SUCCEEDED
IN TURNING CRUDE OIL
180
00:08:31,288 --> 00:08:35,690
INTO A KEROSENE MORE STABLE AND
CLEAN-BURNING THAN ANY OTHER.
181
00:08:35,792 --> 00:08:38,326
ANDREWS KNEW
HOW TO REFINE CRUDE
182
00:08:38,428 --> 00:08:40,728
AND MAKE A MARKETABLE PRODUCT
OUT OF IT.
183
00:08:40,830 --> 00:08:43,064
INVEST WITH ME,
184
00:08:43,166 --> 00:08:45,867
AND TOGETHER,
WE WILL REVOLUTIONIZE
185
00:08:45,969 --> 00:08:48,002
THE OIL REFINERY BUSINESS.
186
00:08:48,104 --> 00:08:50,238
HE WAS CRITICAL
TO THE ORGANIZATION.
187
00:08:50,340 --> 00:08:51,372
HE HAD THE KNOWLEDGE.
188
00:08:51,474 --> 00:08:53,508
THEY DIDN'T HAVE IT,
AND THEY NEEDED IT.
189
00:08:53,610 --> 00:08:56,344
INTERESTING.
TELL ME MORE, MR. ANDREWS.
190
00:08:56,446 --> 00:09:00,181
ROCKEFELLER HAD A KIND OF VISION
OR A SENSE OR INTUITION
191
00:09:00,283 --> 00:09:03,851
OR A CONVICTION ABOUT THE FUTURE
THAT THE CLARKS DIDN'T HAVE.
192
00:09:03,954 --> 00:09:05,119
NO CHANCE.
193
00:09:05,221 --> 00:09:08,623
JOHN AND I TOGETHER DO NOT HAVE
MORE THAN $250.
194
00:09:08,725 --> 00:09:10,892
Yergin: ROCKEFELLER
WAS FULL OF CONFIDENCE
195
00:09:10,994 --> 00:09:13,895
AND WANTED TO AGGRESSIVELY
BUILD THE BUSINESS,
196
00:09:13,997 --> 00:09:16,397
PUT MONEY IN IT, BORROW MONEY,
KEEP BUILDING.
197
00:09:16,499 --> 00:09:18,833
OH, I THINK WE CAN SPARE
MORE THAN THAT, MAURICE.
198
00:09:18,935 --> 00:09:22,036
PEOPLE LIKE ROCKEFELLER
WERE BIG RISK-TAKERS.
199
00:09:22,138 --> 00:09:24,272
WE SHALL PLEDGE $4,000
200
00:09:24,374 --> 00:09:27,475
FOR HALF OF THE WORKING CAPITAL
OF THIS NEW REFINING VENTURE.
201
00:09:27,577 --> 00:09:30,144
ROCKEFELLER WAS WILLING
TO BET BIG
202
00:09:30,246 --> 00:09:32,347
IN HOPES THAT HE COULD WIN BIG.
203
00:09:32,449 --> 00:09:36,250
WELL, IF JOHN WILL GO IN,
I WILL.
204
00:09:36,353 --> 00:09:38,419
¶¶
205
00:09:45,595 --> 00:09:48,930
Narrator: ROCKEFELLER
HAS ONE BIG PROBLEM --
206
00:09:49,032 --> 00:09:51,599
HE HAS TO RELY ON RAILWAYS
TO BRING THE CREW
207
00:09:51,701 --> 00:09:53,868
TO HIS NEW REFINERY
IN CLEVELAND.
208
00:09:53,970 --> 00:09:56,471
[ TRAIN BELL DINGING ]
209
00:09:56,573 --> 00:09:59,207
TOM SCOTT HAS HIS OWN AGENDA.
210
00:09:59,309 --> 00:10:01,976
HE WANTS REFINING
TO STAY IN PITTSBURGH
211
00:10:02,078 --> 00:10:05,580
SO HIS RAILWAY
REAPS ALL THE PROFIT.
212
00:10:05,682 --> 00:10:09,651
SCOTT AND ROCKEFELLER ARE NOW
ON A DIRECT COLLISION COURSE
213
00:10:09,753 --> 00:10:10,685
OVER OIL.
214
00:10:10,787 --> 00:10:12,320
SLASH THE RATES.
215
00:10:12,422 --> 00:10:14,422
¶¶
216
00:10:17,060 --> 00:10:19,494
¶¶
217
00:10:21,498 --> 00:10:25,767
Narrator: IN THE 1860s, GREAT
FORCES ARE SHAPING AMERICA.
218
00:10:25,869 --> 00:10:27,235
[ GUNFIRE ]
219
00:10:27,337 --> 00:10:28,703
[ MEN SHOUTING ]
220
00:10:28,805 --> 00:10:33,808
AS A BLOODY CIVIL WAR
TEARS THE NATION APART...
221
00:10:33,910 --> 00:10:36,944
RAILROADS EXPAND
FROM EAST TO WEST.
222
00:10:37,047 --> 00:10:41,049
OIL IS CREATING AN INDUSTRY
THAT WILL TRANSFORM THE PLANET.
223
00:10:41,151 --> 00:10:44,519
GENTLEMEN, I SEE
A GREAT FORTUNE AHEAD OF US.
224
00:10:44,621 --> 00:10:48,990
TWO MEN PLANNING THEIR FORTUNES
ARE DESTINED TO CLASH.
225
00:10:49,059 --> 00:10:50,758
I'LL WIPE 'EM OFF THE MAP.
226
00:10:50,860 --> 00:10:54,262
¶¶
227
00:10:54,364 --> 00:10:57,065
West: THE RELATIONSHIP
BETWEEN OIL AND RAIL
228
00:10:57,167 --> 00:11:00,835
WAS ABSOLUTELY CRUCIAL
IN THE 19th CENTURY,
229
00:11:00,937 --> 00:11:04,372
BECAUSE OIL REFINERS
NEEDED RAILROAD LINES
230
00:11:04,474 --> 00:11:07,475
IN ORDER TO TRANSPORT
THEIR PRODUCT.
231
00:11:07,577 --> 00:11:09,911
[ TRAIN BELL DINGING ]
232
00:11:10,013 --> 00:11:14,482
Narrator:
ROCKEFELLER'S PLAN TO TAKE OVER
THE WORLD HAS ONE FLAW --
233
00:11:14,584 --> 00:11:18,119
NO DIRECT RAILROAD
TO THE OIL FIELDS.
234
00:11:18,221 --> 00:11:21,422
IN 1863,
ONLY MONTHS AFTER HE OPENS
235
00:11:21,524 --> 00:11:23,725
HIS FIRST REFINERY IN CLEVELAND,
236
00:11:23,827 --> 00:11:27,128
ROCKEFELLER GETS A BIG BREAK
WHEN HE MEETS THE PRESIDENT
237
00:11:27,230 --> 00:11:29,397
OF THE ATLANTIC
AND GREAT WESTERN RAILROAD.
238
00:11:29,499 --> 00:11:30,998
BRIGHT YOUNG MAN.
GOOD FAMILY.
239
00:11:31,101 --> 00:11:34,102
SIR, MY NAME
IS JOHN D. ROCKEFELLER.
240
00:11:34,204 --> 00:11:37,371
INITIALLY, THE ATLANTIC
AND GREAT WESTERN RAILROAD
241
00:11:37,474 --> 00:11:41,342
IS BUILT TO CONNECT THE ATLANTIC
COAST TO THE AMERICAN WEST.
242
00:11:41,444 --> 00:11:43,978
ALMOST BY ACCIDENT,
THE LINE GOES THROUGH
243
00:11:44,080 --> 00:11:49,817
THE OIL REGIONS OF TITUSVILLE
TO THEN JOIN UP WITH CLEVELAND.
244
00:11:49,919 --> 00:11:51,819
I'VE HEARD OF YOU, ROCKEFELLER.
TELL ME MORE.
245
00:11:51,921 --> 00:11:54,122
WHEN THE ATLANTIC AND
GREAT WESTERN REACHED CLEVELAND
246
00:11:54,224 --> 00:11:57,725
IN 1863,
IT OPENED ENORMOUS OPPORTUNITIES
247
00:11:57,827 --> 00:11:59,961
FOR OIL MEN
LIKE JOHN D. ROCKEFELLER.
248
00:12:00,063 --> 00:12:02,263
WELL, SIR, I LOOK FORWARD
TO FUTURE MEETINGS.
249
00:12:02,365 --> 00:12:03,631
AS DO I.
250
00:12:03,733 --> 00:12:06,167
¶¶
251
00:12:06,269 --> 00:12:09,237
[ TRAIN BELL DINGING ]
252
00:12:09,339 --> 00:12:11,272
[ TRAIN WHISTLE BLOWS ]
253
00:12:11,374 --> 00:12:13,608
Narrator: THE NEW
ATLANTIC AND GREAT WESTERN LINE
254
00:12:13,710 --> 00:12:15,076
THREATENS SCOTT'S PLAN
255
00:12:15,178 --> 00:12:18,045
TO KEEP PITTSBURGH
AS THE CENTER OF OIL REFINING.
256
00:12:18,148 --> 00:12:21,182
Nelson:
FOR TOM SCOTT, PITTSBURGH'S GOT
TO BE THE CENTER OF THE WORLD.
257
00:12:21,284 --> 00:12:23,851
ALL THE RAW MATERIALS ARE GOING
TO BE BROUGHT INTO PITTSBURGH.
258
00:12:23,953 --> 00:12:26,287
THEY'LL BE REFINED IN PITTSBURGH
AND THEN DELIVERED OUT.
259
00:12:26,389 --> 00:12:28,623
CHEAP DELIVERY TO PITTSBURGH,
EXPENSIVE DELIVERY OUT.
260
00:12:28,725 --> 00:12:30,391
THAT'S HOW
THE PENNSYLVANIA RAILROAD'S
261
00:12:30,493 --> 00:12:32,894
GONNA MAKE ITS FORTUNE.
262
00:12:32,996 --> 00:12:36,130
Narrator: TO STAY COMPETITIVE,
SCOTT TALKS STATE OFFICIALS
263
00:12:36,232 --> 00:12:40,067
INTO ALLOWING THE PENNSYLVANIA
TO TAKE OVER A SMALL LINE THAT
264
00:12:40,170 --> 00:12:43,471
LEADS INTO THE HEART
OF THE OIL REGIONS.
265
00:12:43,573 --> 00:12:46,574
MR. SCOTT,
I BELIEVE WE HAVE A DEAL.
266
00:12:46,676 --> 00:12:50,211
AS THE ONLY COMPANY
WITH TWO RAIL ROUTES
267
00:12:50,313 --> 00:12:53,514
BETWEEN THE OIL FIELDS
AND THE EAST COAST,
268
00:12:53,616 --> 00:12:56,617
THE PENNSYLVANIA RAILROAD WAS
NOW IN A VERY POWERFUL POSITION,
269
00:12:56,719 --> 00:12:59,554
ABLE TO STRONGLY INFLUENCE
RAILROAD RATES.
270
00:12:59,656 --> 00:13:03,624
AND TO THE HEALTH OF THE GREAT
PENNSYLVANIA CENTRAL RAILROAD.
271
00:13:03,726 --> 00:13:06,727
INDEED, SIR.
272
00:13:06,830 --> 00:13:11,065
Narrator: AS SCOTT
REGAINS THE UPPER HAND...
273
00:13:11,167 --> 00:13:13,701
ROCKEFELLER'S AGGRESSIVE MOVE
INTO OIL
274
00:13:13,803 --> 00:13:17,305
WORRIES HIS PARTNERS, MAURICE
CLARK AND HIS BROTHER, JAMES.
275
00:13:19,843 --> 00:13:24,445
WHY, YOU HAVE BORROWED $100,000
WITHOUT EVEN CONSULTING US.
276
00:13:24,547 --> 00:13:26,347
WE HAVE BEEN ASKING
TOO MANY LOANS
277
00:13:26,449 --> 00:13:29,617
IN ORDER TO EXTEND
THIS OIL BUSINESS.
278
00:13:29,719 --> 00:13:33,154
THE OIL INDUSTRY WAS PART OF
A BOOM-AND-BUST ECONOMIC CYCLE.
279
00:13:33,256 --> 00:13:36,557
IT WAS AN EXTRAORDINARILY
RISKY BUSINESS.
280
00:13:36,659 --> 00:13:39,093
IF WE ARE PLANNING
TO MAKE THIS BUSINESS OUR OWN,
281
00:13:39,195 --> 00:13:40,661
WE MUST EXPAND OUR OPERATION.
282
00:13:40,763 --> 00:13:41,863
THAT TAKES MONEY.
283
00:13:41,965 --> 00:13:43,998
THERE WAS OBVIOUSLY
A DIFFERENCE OF OPINION
284
00:13:44,100 --> 00:13:46,834
BETWEEN THE CLARK BROTHERS
AND JOHN D. ROCKEFELLER
285
00:13:46,936 --> 00:13:49,937
ON HOW YOU MANAGE
THIS ENTERPRISE THAT THEY HAD.
286
00:13:50,039 --> 00:13:51,272
WE SHOULD BORROW
287
00:13:51,374 --> 00:13:54,108
WHENEVER WE CAN SAFELY EXTEND
THE BUSINESS BY DOING SO.
288
00:13:54,210 --> 00:13:57,612
WE DO NOT WANT TO OVEREXTEND
OUR CREDIT WITH THE BANKS.
289
00:13:57,714 --> 00:13:59,747
¶¶
290
00:13:59,849 --> 00:14:05,186
HE WAS VERY LOW-KEY IN HIS
DEMEANOR, HIS PERSONALITY --
291
00:14:05,288 --> 00:14:08,189
COOL, ICY COOL, TOO COOL.
292
00:14:08,291 --> 00:14:10,124
MOST PEOPLE
WERE UNCOMFORTABLE WITH IT,
293
00:14:10,226 --> 00:14:12,760
BUT THAT WAS HIS NATURE.
294
00:14:12,862 --> 00:14:14,996
SOMETIMES, MAURICE,
AS BUSINESSMEN,
295
00:14:15,098 --> 00:14:17,365
YOU MUST BE PREPARED
TO TAKE RISKS,
296
00:14:17,467 --> 00:14:19,100
CALCULATED AS THEY MAY BE,
297
00:14:19,202 --> 00:14:21,903
BUT RISKS THAT WE ARE FOLLOWING
THE RIGHT PATH.
298
00:14:22,005 --> 00:14:24,438
ROCKEFELLER IS QUITE PROUD
299
00:14:24,540 --> 00:14:28,542
OF THE FACT THAT HIS PULSE
IS 52 BEATS PER MINUTE.
300
00:14:28,645 --> 00:14:30,611
HE WILL NOT LOSE HIS TEMPER.
301
00:14:30,713 --> 00:14:32,880
IF THIS IS THE WAY
YOU'D LIKE TO DO BUSINESS,
302
00:14:32,982 --> 00:14:34,181
THEN WE'D BETTER DISSOLVE
303
00:14:34,284 --> 00:14:37,418
SO YOU CAN RUN YOUR OWN AFFAIRS
TO SUIT YOURSELF.
304
00:14:37,520 --> 00:14:39,320
¶¶
305
00:14:39,422 --> 00:14:42,189
Narrator:
ON FEBRUARY 1, 1865,
306
00:14:42,292 --> 00:14:47,361
ROCKEFELLER INITIATES
THE FIRST OF HIS MANY TAKEOVERS.
307
00:14:47,463 --> 00:14:50,698
ROCKEFELLER HAD AN ABILITY
TO SEE A BIGGER PICTURE
308
00:14:50,800 --> 00:14:54,302
AND TO SEE THE FUTURE
IN A WAY THAT OTHERS COULDN'T.
309
00:14:54,404 --> 00:14:56,871
Narrator: THEY AGREE
TO AN IMMEDIATE PRIVATE AUCTION
310
00:14:56,973 --> 00:15:00,241
FOR SOLE CONTROL
OF THE ENTIRE BUSINESS.
311
00:15:00,343 --> 00:15:04,545
THE BIDDING BEGINS AT $500
BUT QUICKLY CLIMBS.
312
00:15:04,647 --> 00:15:08,282
WHAT SAY YOU TO $50,000?
313
00:15:08,384 --> 00:15:11,485
$55,000.
314
00:15:11,587 --> 00:15:14,789
$60,000.
315
00:15:14,891 --> 00:15:16,157
$70,000.
316
00:15:16,259 --> 00:15:18,993
¶¶
317
00:15:19,095 --> 00:15:23,097
$72,000.
318
00:15:23,199 --> 00:15:25,433
$72,500.
319
00:15:25,535 --> 00:15:27,568
¶¶
320
00:15:27,670 --> 00:15:29,403
McElwee:
...WHICH WAS A LOT OF MONEY.
321
00:15:29,505 --> 00:15:33,808
$72,500 WAS A LOT OF MONEY.
322
00:15:33,910 --> 00:15:35,910
I GO NO HIGHER, JOHN.
323
00:15:36,012 --> 00:15:37,745
THE BUSINESS IS YOURS.
324
00:15:37,847 --> 00:15:39,847
¶¶
325
00:15:42,318 --> 00:15:45,553
Rockefeller: TODAY IS THE DAY
THAT DETERMINES MY CAREER.
326
00:15:45,655 --> 00:15:48,055
I FEEL THE BIGNESS OF IT.
327
00:15:48,157 --> 00:15:50,391
Yergin: WHEN ROCKEFELLER
BOUGHT OUT THE CLARKS,
328
00:15:50,493 --> 00:15:52,727
HE KNEW WHAT HE WAS BUYING,
BECAUSE HE BUILT UP
329
00:15:52,829 --> 00:15:55,296
WHAT BECAME THE BIGGEST REFINERY
IN CLEVELAND,
330
00:15:55,398 --> 00:15:59,633
WHICH GAVE HIM A DOMINATING
POSITION IN THAT CITY.
331
00:15:59,736 --> 00:16:03,304
Narrator: ROCKEFELLER COULD NOT
HAVE TIMED HIS TAKEOVER BETTER.
332
00:16:03,406 --> 00:16:06,307
¶¶
333
00:16:06,409 --> 00:16:09,477
TWO MONTHS LATER, IN APRIL 1865,
334
00:16:09,579 --> 00:16:11,278
THE CIVIL WAR ENDS
335
00:16:11,381 --> 00:16:14,415
WHEN ROBERT E. LEE
SURRENDERS TO GRANT.
336
00:16:14,517 --> 00:16:18,185
OIL IS ABOUT TO BECOME
VERY BIG BUSINESS.
337
00:16:18,287 --> 00:16:21,155
¶¶
338
00:16:21,257 --> 00:16:22,823
ROCKEFELLER AND SCOTT
339
00:16:22,925 --> 00:16:26,227
TURN TO CUTTHROAT TACTICS
AND BACKROOM DEALS...
340
00:16:26,329 --> 00:16:27,361
NO CONTRACTS.
341
00:16:27,463 --> 00:16:30,364
...TO COMPETE
FOR INDUSTRIAL DOMINATION.
342
00:16:30,466 --> 00:16:32,867
¶¶
343
00:16:35,204 --> 00:16:37,171
¶¶
344
00:16:39,575 --> 00:16:41,909
Narrator:
AFTER THE END OF THE CIVIL WAR,
345
00:16:42,011 --> 00:16:45,279
THE AMERICAN ECONOMY
FORGES AHEAD.
346
00:16:45,381 --> 00:16:51,886
OIL, STEEL, AND RAILROADS
ARE DRIVING A REVOLUTION.
347
00:16:51,988 --> 00:16:54,622
THE PERIOD
RIGHT AFTER THE CIVIL WAR
348
00:16:54,724 --> 00:16:57,525
WAS THE ERA
OF INDUSTRIALIZATION.
349
00:16:57,627 --> 00:17:00,361
WE WERE BUILDING THE RAILROADS.
350
00:17:00,463 --> 00:17:04,331
THE COUNTRY WAS EXPANDING
OUT TO THE WEST COAST.
351
00:17:04,434 --> 00:17:08,636
THERE WERE ENORMOUS
OPPORTUNITIES TO MAKE MONEY.
352
00:17:08,738 --> 00:17:13,541
Narrator:
JOHN D. ROCKEFELLER IS PERFECTLY
PLACED TO BUILD A FORTUNE.
353
00:17:13,643 --> 00:17:16,343
PEOPLE WANT THE LUXURY OF LIGHT.
354
00:17:16,446 --> 00:17:20,214
KEROSENE IS NOW
A HOUSEHOLD COMMODITY.
355
00:17:20,316 --> 00:17:22,316
Yergin:
YOU'D GET OIL OUT OF THE GROUND,
356
00:17:22,418 --> 00:17:24,151
BUT YOU COULDN'T USE IT
IN A LAMP.
357
00:17:24,253 --> 00:17:26,320
YOU HAD TO REFINE IT
INTO SOMETHING
358
00:17:26,422 --> 00:17:28,189
AND REFINE IT INTO KEROSENE.
359
00:17:28,291 --> 00:17:31,459
TO DO THAT,
YOU HAD TO BUILD A REFINERY.
360
00:17:31,561 --> 00:17:36,797
Narrator:
IN 1865, ROCKEFELLER'S CLEVELAND
REFINERY ROLLS OUT 500 BARRELS
361
00:17:36,899 --> 00:17:40,568
OF HIGH-QUALITY REFINED OIL
EVERY DAY,
362
00:17:40,670 --> 00:17:43,104
THANKS TO CHEMIST SAM ANDREWS,
363
00:17:43,206 --> 00:17:46,707
WHOSE KEROSENE STANDS OUT
FROM ALL THE REST.
364
00:17:46,809 --> 00:17:49,210
Nelson: THE KEROSENE
DOES NOT BREAK DOWN.
365
00:17:49,312 --> 00:17:50,744
EVERY OTHER KIND OF REFINER
366
00:17:50,847 --> 00:17:53,013
PRODUCES SOMETHING
THAT'S PARTIALLY NAPHTHENE,
367
00:17:53,116 --> 00:17:55,316
PARTIALLY THIS OTHER
VISCOUS SUBSTANCE.
368
00:17:55,418 --> 00:17:58,352
IT'S ALL MIXED TOGETHER
AND THEN SOLD AS A LANTERN.
369
00:17:58,454 --> 00:18:01,255
THAT'S A RECIPE FOR DISASTER.
ONCE THAT THING FALLS OVER,
370
00:18:01,357 --> 00:18:04,258
IF IT'S LIT,
IT'LL SET A HOUSE ON FIRE.
371
00:18:04,360 --> 00:18:06,393
JOHN D. ROCKEFELLER
HAS A BETTER PRODUCT
372
00:18:06,496 --> 00:18:10,064
THAN ANY OTHER OF THE REFINERS
IN PITTSBURGH.
373
00:18:10,166 --> 00:18:13,968
Narrator: IN 1867, ROCKEFELLER
BRINGS HENRY FLAGLER
374
00:18:14,070 --> 00:18:15,536
TO INSPECT HIS BUSINESS.
375
00:18:15,638 --> 00:18:17,872
COME MEET SAM ANDREWS,
OUR CHIEF CHEMIST.
376
00:18:17,974 --> 00:18:21,342
Narrator: LIKE ROCKEFELLER,
FLAGLER IS AN ENTREPRENEUR.
377
00:18:21,410 --> 00:18:25,012
ONE OF HIS EARLIEST VENTURES
WAS DISTILLING ALCOHOL.
378
00:18:25,114 --> 00:18:26,814
REMARKABLE.
379
00:18:26,916 --> 00:18:29,049
THIS IS QUITE AN OPERATION
YOU BOTH HAVE.
380
00:18:29,152 --> 00:18:30,384
I'M IMPRESSED.
381
00:18:30,486 --> 00:18:33,821
MR. FLAGLER, IF I MAY,
AFTER WE CONDENSE...
382
00:18:33,923 --> 00:18:36,290
Nelson: REFINING OIL
IS JUST DISTILLING IT,
383
00:18:36,392 --> 00:18:38,292
THAT YOU HEAT UP CRUDE OIL,
384
00:18:38,394 --> 00:18:40,561
AND YOU BREAK IT OFF
INTO THESE VARIOUS FRACTIONS.
385
00:18:40,663 --> 00:18:42,429
AND THAT'S HOW YOU GET KEROSENE.
386
00:18:42,532 --> 00:18:45,266
AND FLAGLER,
COMING FROM A DISTILLERY,
387
00:18:45,334 --> 00:18:48,068
KNOWS THAT BUSINESS WELL.
388
00:18:48,171 --> 00:18:50,504
Narrator:
FLAGLER SEES THE POTENTIAL.
389
00:18:50,606 --> 00:18:53,474
HE INVESTS $100,000.
390
00:18:53,543 --> 00:18:55,342
EFFICIENCY, HENRY.
YOU KNOW ME.
391
00:18:55,444 --> 00:18:57,811
AND WITH YOUR HELP,
THIS ONE REFINERY
392
00:18:57,914 --> 00:19:01,448
WILL BECOME THE BUILDING BLOCK
OF AN EMPIRE.
393
00:19:01,551 --> 00:19:05,452
Narrator:
ROCKEFELLER, ANDREWS, AND
FLAGLER ARE OPEN FOR BUSINESS.
394
00:19:05,555 --> 00:19:08,022
¶¶
395
00:19:08,124 --> 00:19:12,927
AS ROCKEFELLER'S BUSINESS GROWS,
SCOTT GOES ON THE ATTACK.
396
00:19:13,029 --> 00:19:15,429
Scott:
IT'S QUITE SIMPLE, REALLY.
397
00:19:15,531 --> 00:19:18,632
REFINERS THAT SET UP IN THE OIL
REGIONS HAVE ALL THE POWER.
398
00:19:18,734 --> 00:19:22,069
IN 1868,
SCOTT STARTS A SMEAR CAMPAIGN
399
00:19:22,171 --> 00:19:24,305
AGAINST CLEVELAND'S REFINERS.
400
00:19:24,407 --> 00:19:25,739
HOW'S THAT, MR. SCOTT?
401
00:19:25,841 --> 00:19:28,175
THEY NEED ONLY
SHIP THEIR KEROSENE EAST.
402
00:19:28,277 --> 00:19:30,211
CLEVELAND REFINERS
HAVE NOTHING.
403
00:19:30,313 --> 00:19:34,848
HIS PLAN -- TO PAINT CLEVELAND
AT A GEOGRAPHICAL DISADVANTAGE.
404
00:19:34,951 --> 00:19:36,984
THEY MUST PAY
FOR BOTH THE SHIPMENT OF CRUDE
405
00:19:37,086 --> 00:19:40,120
AND KEROSENE
OVER A GREATER DISTANCE.
406
00:19:40,223 --> 00:19:41,855
Nelson:
TOM SCOTT LETS IT BE KNOWN
407
00:19:41,958 --> 00:19:44,692
THAT HE BELIEVES THAT CLEVELAND
OIL REFINERS WILL FAIL,
408
00:19:44,794 --> 00:19:46,560
THAT THEY CAN'T SUCCEED.
409
00:19:46,662 --> 00:19:50,197
SURELY, THEY WILL BE WIPED OUT
AS A REFINING CENTER
410
00:19:50,299 --> 00:19:52,900
AS WITH A SPONGE.
411
00:19:53,002 --> 00:19:55,502
WELL, PERHAPS SO, SIR.
412
00:19:55,605 --> 00:19:58,739
AND HE BELIEVES
THAT THEIR RESPONSE TO THIS
413
00:19:58,841 --> 00:20:01,575
IS TO ABANDON CLEVELAND.
414
00:20:01,644 --> 00:20:04,011
[ TRAIN BELL DINGING ]
415
00:20:04,113 --> 00:20:07,348
Scott: THE NEWSPAPERS WILL
STRIKE FEAR INTO THE HEARTS
416
00:20:07,450 --> 00:20:10,851
OF THE CLEVELAND REFINERS AND
THE RAILROADS THAT SERVE THEM.
417
00:20:10,953 --> 00:20:15,889
I WILL TAKE BACK THE OIL
TRAFFIC AND CONTINUE TO EXPAND.
418
00:20:15,992 --> 00:20:18,959
WHAT IT ACTUALLY DOES
IS PRECISELY THE OPPOSITE.
419
00:20:19,061 --> 00:20:21,795
McElwee: WHEN ROCKEFELLER HEARD
ABOUT TOM SCOTT'S COMMENT
420
00:20:21,897 --> 00:20:25,699
THAT HE WAS GONNA WIPE CLEVELAND
OFF THE MAP
421
00:20:25,801 --> 00:20:27,334
AS A REFINING CENTER,
422
00:20:27,436 --> 00:20:30,004
HE DID WHAT MOST
RED-BLOODED MEN WOULD DO.
423
00:20:30,106 --> 00:20:32,539
[ CHUCKLES ]
HE SAID, "OH, YEAH?"
424
00:20:32,642 --> 00:20:35,609
HE TOOK IT AS A CHALLENGE,
WHICH IT WAS.
425
00:20:35,711 --> 00:20:37,811
¶¶
426
00:20:37,913 --> 00:20:40,848
Narrator: ROCKEFELLER USES
SCOTT'S THREATS AGAINST HIM
427
00:20:40,950 --> 00:20:45,052
AND GOES TO
HIS MAIN COMPETITORS.
428
00:20:45,154 --> 00:20:48,622
HOW DARE
THEY THREATEN US LIKE THIS!
429
00:20:48,724 --> 00:20:51,992
JAY GOULD IS THE OWNER
OF THE ERIE RAILROAD
430
00:20:52,094 --> 00:20:55,863
AND RELIES ON REFINERS PAYING
TO SHIP OIL FROM CLEVELAND.
431
00:20:55,965 --> 00:20:58,666
MR. GOULD, THIS COULD BE
AN OPPORTUNITY FOR THE ERIE
432
00:20:58,768 --> 00:21:00,434
LIKE NO OTHER.
433
00:21:00,503 --> 00:21:04,004
Churella:
JAY GOULD HAD JUST TAKEN CONTROL
OF THE ERIE RAILROAD.
434
00:21:04,106 --> 00:21:07,908
AND IN 1868, THE ERIE LEASED
THE ATLANTIC AND GREAT WESTERN,
435
00:21:08,010 --> 00:21:12,246
PAYING EXORBITANT CHARGES
TO DO SO.
436
00:21:12,348 --> 00:21:16,617
Narrator: THE LAST THING HE CAN
AFFORD NOW IS TO LOSE BUSINESS.
437
00:21:16,719 --> 00:21:18,619
OPPORTUNITY?
438
00:21:18,721 --> 00:21:22,022
IT STANDS YOU IN HAND TO BETTER
MIND OUR BUSINESS, ROCKEFELLER.
439
00:21:22,124 --> 00:21:24,058
Churella:
GOULD WAS DESPERATE FOR TRAFFIC
440
00:21:24,160 --> 00:21:27,194
AT THE SAME TIME
THAT ROCKEFELLER WAS DESPERATE
441
00:21:27,296 --> 00:21:29,330
TO SECURE FREIGHT RATES
LOW ENOUGH
442
00:21:29,432 --> 00:21:33,467
TO PREVENT CLEVELAND FROM BEING
WIPED OFF THE MAP LIKE A SPONGE.
443
00:21:33,569 --> 00:21:35,836
IF THE CLEVELAND REFINERS
MOVE TO OIL CREEK,
444
00:21:35,938 --> 00:21:39,873
WE WILL LOSE ALL THEIR FREIGHT
BUSINESS TO THE PENNSYLVANIA.
445
00:21:39,975 --> 00:21:43,010
ROCKEFELLER WAS VERY GOOD
AT NEGOTIATING WITH OTHER PEOPLE
446
00:21:43,112 --> 00:21:45,279
AND SIZING THEM UP.
447
00:21:45,381 --> 00:21:47,348
NOT IF WE CAN
AGREE TO A DEAL
448
00:21:47,450 --> 00:21:50,684
WHEREBY I GUARANTEE THE ERIE
ENOUGH OIL TRAFFIC
449
00:21:50,786 --> 00:21:52,519
THAT YOU WILL NEED
NO OTHER REFINERS.
450
00:21:52,621 --> 00:21:55,356
HE COULD WALK INTO A ROOM,
START TALKING WITH SOMEONE,
451
00:21:55,458 --> 00:21:57,024
AND IMMEDIATELY
GET A GOOD SENSE
452
00:21:57,126 --> 00:22:00,027
OF WHO THEY ARE
AND WHAT MOTIVATED THEM.
453
00:22:00,129 --> 00:22:02,830
PERHAPS WE COULD COME
TO SOME SPECIAL AGREEMENT.
454
00:22:02,932 --> 00:22:05,132
¶¶
455
00:22:05,234 --> 00:22:07,201
HE COULD NEGOTIATE
VERY EFFECTIVELY...
456
00:22:07,303 --> 00:22:08,469
GOOD DAY, MR. GOULD.
457
00:22:08,571 --> 00:22:11,171
...BECAUSE HE UNDERSTOOD
WHAT THE OTHER PERSON NEEDED
458
00:22:11,273 --> 00:22:12,840
IN ORDER TO GET THE DEAL.
459
00:22:12,942 --> 00:22:14,775
¶¶
460
00:22:19,849 --> 00:22:23,751
VICE PRESIDENT OF THE LAKE SHORE
RAILROAD, J.H. DEVEREUX,
461
00:22:23,853 --> 00:22:26,653
ALSO FEELS THREATENED BY SCOTT'S
COMPETING RAILROAD.
462
00:22:26,756 --> 00:22:28,789
-BUT I HAVE A PLAN --
-HOW CAN WE POSSIBLY COMPETE?
463
00:22:28,891 --> 00:22:30,824
CLEVELAND IS FURTHER FROM
THE OIL FIELDS THAN PITTSBURGH
464
00:22:30,926 --> 00:22:32,793
AND FURTHER STILL
FROM THE EAST COAST.
465
00:22:32,895 --> 00:22:36,230
OUR PLAN IS TO CONSOLIDATE THE
REFINERIES AND SAVE CLEVELAND.
466
00:22:36,332 --> 00:22:39,566
BUT WE MUST BEAT TOM SCOTT
AT HIS OWN GAME.
467
00:22:39,668 --> 00:22:42,636
Churella:
DEVEREUX OFFERED ROCKEFELLER
EXCEEDINGLY LOW RATES.
468
00:22:42,738 --> 00:22:45,305
AND IN EXCHANGE,
ROCKEFELLER OFFERED DEVEREUX
469
00:22:45,408 --> 00:22:49,610
A GUARANTEED SOURCE OF TRAFFIC,
A HUGE VOLUME OF TRAFFIC.
470
00:22:49,712 --> 00:22:51,512
IF WE CAN AGREE
ON A FAIR RATE,
471
00:22:51,614 --> 00:22:55,716
I WILL GUARANTEE 60 CARLOADS
OF REFINED OIL DAILY.
472
00:22:55,818 --> 00:22:57,017
GUARANTEED?
473
00:22:57,119 --> 00:22:59,286
THEN I BELIEVE
WE CAN DO BUSINESS.
474
00:22:59,388 --> 00:23:02,923
Narrator: ROCKEFELLER COMPLETELY
OUTMANEUVERS TOM SCOTT.
475
00:23:03,025 --> 00:23:07,361
I WILL DO YOU $1.65
FOR CRUDE OR REFINED.
476
00:23:07,463 --> 00:23:10,664
Nelson: HE ENDS UP
HAVING TO BUY FINISHED OIL
477
00:23:10,766 --> 00:23:11,965
FROM HIS COMPETITORS.
478
00:23:12,067 --> 00:23:13,534
BUT WHAT THIS ALLOWS HIM TO DO
479
00:23:13,636 --> 00:23:17,438
IS TO GET THE BEST DEAL
YOU CAN IMAGINE.
480
00:23:17,540 --> 00:23:19,473
OUR PEOPLE DO NOT THINK
IT WOULD BE BEST
481
00:23:19,575 --> 00:23:23,677
IF LAKE SHORE ROAD OR US
HAD A CONTRACT.
482
00:23:23,779 --> 00:23:26,079
Churella: NEITHER ROCKEFELLER
NOR THE RAILROADS
483
00:23:26,182 --> 00:23:27,915
WANTED TO KEEP WRITTEN RECORDS
484
00:23:28,017 --> 00:23:31,518
OF THE REBATES
THAT THEY OFFERED.
485
00:23:31,620 --> 00:23:34,188
NO CONTRACTS.
486
00:23:34,290 --> 00:23:37,090
IF OTHER SHIPPERS
FOUND OUT ABOUT THEM,
487
00:23:37,193 --> 00:23:39,226
THEY COULD DEMAND
SIMILAR REBATES
488
00:23:39,328 --> 00:23:42,496
AND EVEN THREATEN
TO GO TO COURT.
489
00:23:42,598 --> 00:23:44,932
¶¶
490
00:23:45,034 --> 00:23:47,868
Narrator:
WITH HIS SECRET DEAL IN PLACE,
491
00:23:47,970 --> 00:23:51,505
ROCKEFELLER TURNS
TO HIS NEXT PROBLEM --
492
00:23:51,607 --> 00:23:54,241
VOLATILE OIL PRICES.
493
00:23:54,343 --> 00:23:56,276
Yergin:
AT THE END OF THE 1860s,
494
00:23:56,378 --> 00:23:59,646
THE OIL INDUSTRY
WAS IN BIG TROUBLE.
495
00:23:59,748 --> 00:24:02,316
IT WAS SUFFERING
FROM OVERPRODUCTION
496
00:24:02,418 --> 00:24:04,885
SO THAT THE PRICE OF OIL
HAD COLLAPSED.
497
00:24:04,954 --> 00:24:09,323
AND THERE WAS ALSO AN INCREDIBLE
OVERBUILDING OF REFINERIES.
498
00:24:09,425 --> 00:24:10,991
¶¶
499
00:24:11,093 --> 00:24:14,361
Narrator:
AS A RESULT, ROCKEFELLER'S
PROFITS ARE SUFFERING.
500
00:24:14,463 --> 00:24:18,165
WE NEED TO DO SOMETHING TO SAVE
THE OIL INDUSTRY FROM ITSELF.
501
00:24:18,267 --> 00:24:20,701
HE NEEDS A NEW STRATEGY.
502
00:24:20,803 --> 00:24:22,669
THE OVERDEVELOPMENT
OF THE REFINING INDUSTRY
503
00:24:22,771 --> 00:24:26,039
HAS CREATED
RUINOUS COMPETITION.
504
00:24:26,141 --> 00:24:30,577
HE SAW GREAT OVERCAPACITY,
GREAT INEFFICIENCY.
505
00:24:30,679 --> 00:24:33,146
WE NEED TO BUY UP
THE MANY REFINERIES
506
00:24:33,249 --> 00:24:37,351
THAT ARE A SOURCE
OF OVERPRODUCTION AND CONFUSION.
507
00:24:37,453 --> 00:24:40,354
AND BASICALLY, THE REFINERS
WERE KILLING EACH OTHER,
508
00:24:40,456 --> 00:24:44,024
UNDERCUTTING EACH OTHER, BECAUSE
THEY WEREN'T MAKING ANY MONEY.
509
00:24:44,126 --> 00:24:48,328
AND ONCE WE CONTROL THEM, WE CAN
CONTROL PRODUCTION LEVELS.
510
00:24:48,430 --> 00:24:50,731
WHAT WE NEED
IS A GREAT DEAL OF MONEY.
511
00:24:50,833 --> 00:24:52,599
¶¶
512
00:24:52,701 --> 00:24:55,435
Narrator: FLAGLER SHOWS
HIS BUSINESS BRILLIANCE.
513
00:24:55,538 --> 00:24:58,238
WE SHALL INCORPORATE.
514
00:24:58,340 --> 00:25:02,409
Yergin:
ONE OF THE IDEAS THAT, REALLY,
FLAGLER HELPED TO BRING FORWARD
515
00:25:02,511 --> 00:25:07,114
WAS TO MOVE BEYOND A PARTNERSHIP
AND CREATE A COMPANY WITH STOCK,
516
00:25:07,216 --> 00:25:11,785
BUT MAINTAIN WHAT ROCKEFELLER
WANTED, WHICH WAS CONTROL.
517
00:25:11,887 --> 00:25:14,054
I WISH I HAD THE BRAINS
TO THINK OF IT.
518
00:25:14,156 --> 00:25:16,156
¶¶
519
00:25:16,258 --> 00:25:21,428
Narrator:
ONCE INCORPORATED, THEY CAN SELL
SHARES TO RAISE THEIR CAPITAL.
520
00:25:21,530 --> 00:25:25,766
THEY NAME THE COMPANY
STANDARD OIL.
521
00:25:25,868 --> 00:25:29,836
West:
THE CORPORATION WAS AN IMPORTANT
CONCEPT FOR WEALTH CREATION,
522
00:25:29,939 --> 00:25:32,906
BECAUSE IT ALLOWED PEOPLE
TO POOL THE MONEY
523
00:25:33,008 --> 00:25:35,108
AND POOL THE RISK
TO A CERTAIN EXTENT,
524
00:25:35,210 --> 00:25:39,046
BUT STILL ENABLE A LOT OF WEALTH
CREATION IN THE PROCESS.
525
00:25:39,148 --> 00:25:43,350
Yergin:
IT TURNED OUT THAT THIS IDEA OF
ISSUING STOCK WORKED VERY WELL.
526
00:25:43,452 --> 00:25:46,320
HERE, THIS GENTLEMAN
IS PURCHASING 50 SHARES!
527
00:25:46,422 --> 00:25:48,889
WITHIN 2 YEARS,
THE VALUE OF STANDARD OIL
528
00:25:48,991 --> 00:25:51,425
WENT FROM $1 MILLION
TO $3.5 MILLION...
529
00:25:51,527 --> 00:25:53,360
I HAVE ONE
WANTING 70 SHARES.
530
00:25:53,462 --> 00:25:56,229
...WHICH, IN THOSE YEARS,
WAS A LOT OF MONEY.
531
00:25:56,332 --> 00:25:58,899
¶¶
532
00:25:59,001 --> 00:26:04,004
Narrator:
NOW ROCKEFELLER IS POISED TO
TAKE OVER THE ENTIRE INDUSTRY.
533
00:26:04,106 --> 00:26:06,840
TOM SCOTT HAS OTHER IDEAS.
534
00:26:06,942 --> 00:26:08,709
SLASH THE RATES.
535
00:26:08,811 --> 00:26:10,477
¶¶
536
00:26:14,984 --> 00:26:18,118
¶¶
537
00:26:18,187 --> 00:26:22,756
Narrator: IN 1870,
JOHN D. ROCKEFELLER INCORPORATES
538
00:26:22,858 --> 00:26:27,327
AND FORMS THE JUGGERNAUT
STANDARD OIL.
539
00:26:27,429 --> 00:26:30,831
MONEY ROLLS IN.
540
00:26:30,933 --> 00:26:33,000
ROCKEFELLER'S DEALS
WITH THE RAILROADS
541
00:26:33,102 --> 00:26:35,636
HAVE MADE CLEVELAND
A REFINING CENTER.
542
00:26:35,738 --> 00:26:37,904
¶¶
543
00:26:38,007 --> 00:26:40,741
IN PITTSBURGH,
TOM SCOTT IS LOSING MONEY
544
00:26:40,843 --> 00:26:42,776
FROM OVER-COMPETITION.
545
00:26:42,878 --> 00:26:47,080
Churella: TOM SCOTT WAS
DESPERATE TO END THE CYCLE
546
00:26:47,182 --> 00:26:49,883
OF RISING AND FALLING
RAILROAD RATES
547
00:26:49,985 --> 00:26:53,153
AND THE CYCLE
OF CREATING CARTELS
548
00:26:53,255 --> 00:26:56,957
ONLY TO SEE THEM TORN APART
BY EXCESS COMPETITION.
549
00:26:57,059 --> 00:26:58,558
¶¶
550
00:26:58,661 --> 00:27:01,862
[ TRAIN WHISTLE BLOWS ]
551
00:27:01,964 --> 00:27:06,400
Narrator: IN 1871, TOM SCOTT
MASTERMINDS AN ELABORATE SCHEME
552
00:27:06,502 --> 00:27:11,905
TO END THE FREIGHT RATE WARS
AND STABILIZE OIL PRICES.
553
00:27:12,007 --> 00:27:14,641
TOM SCOTT STARTS TO UNDERSTAND
554
00:27:14,710 --> 00:27:17,377
THAT JOHN D. ROCKEFELLER
IS A FORCE TO BE RECKONED WITH.
555
00:27:17,479 --> 00:27:20,147
HE'S GOT A CORPORATION THAT'S
CAPITALIZED IN MILLION DOLLARS.
556
00:27:20,249 --> 00:27:22,416
HE'S GOT INVESTORS FLOWING IN.
557
00:27:22,518 --> 00:27:24,251
AND TOM SCOTT REALIZES
558
00:27:24,353 --> 00:27:29,489
THAT HE HAS TO CHANGE THE WAY
THAT HE WORKS WITH ROCKEFELLER.
559
00:27:29,591 --> 00:27:32,392
Narrator: SCOTT INVITES
THE RAILROADS, STANDARD OIL,
560
00:27:32,494 --> 00:27:35,529
AND SELECT REFINERS
TO JOIN A SECRET ALLIANCE
561
00:27:35,631 --> 00:27:39,399
CALLED THE SOUTH
IMPROVEMENT COMPANY.
562
00:27:39,501 --> 00:27:43,003
Churella: OIL REFINERS
WHO WERE INVITED TO JOIN,
563
00:27:43,105 --> 00:27:45,906
PRINCIPALLY THOSE IN CLEVELAND
AND IN PITTSBURGH,
564
00:27:46,008 --> 00:27:48,175
BUT NOT IN THE OIL REGIONS,
565
00:27:48,277 --> 00:27:52,846
WOULD RECEIVE PREFERENTIAL RATES
ON THE RAILROADS.
566
00:27:52,948 --> 00:27:54,648
SO WE CONTROL THE RATES.
567
00:27:54,750 --> 00:27:59,186
WE CONTROL THE NUMBER OF CARS.
WE CONTROL THE SHIPMENTS.
568
00:27:59,288 --> 00:28:01,321
IF WE CAN DO THAT,
569
00:28:01,423 --> 00:28:03,256
WE CAN CONTROL
THE FUTURE OF RAILROAD
570
00:28:03,358 --> 00:28:06,293
IN THIS PART OF THE COUNTRY
FOR DECADES.
571
00:28:06,395 --> 00:28:11,832
Narrator: IT'S THE ULTIMATE GAME
OF PREFERENTIAL TREATMENT.
572
00:28:11,934 --> 00:28:13,667
Yergin: ROCKEFELLER
DIDN'T WASTE ANY TIME
573
00:28:13,769 --> 00:28:15,335
DURING THE SOUTH
IMPROVEMENT SCHEME.
574
00:28:15,437 --> 00:28:16,703
WHILE IT WAS GOING ON,
575
00:28:16,805 --> 00:28:22,109
HE WAS VERY BUSY BUYING UP
THE REFINERIES IN CLEVELAND.
576
00:28:22,211 --> 00:28:25,245
Narrator: WITH THE DISCOUNTED
SHIPPING RATES INTACT,
577
00:28:25,314 --> 00:28:30,584
ROCKEFELLER BUYS UP
22 OF CLEVELAND'S 26 REFINERIES.
578
00:28:30,686 --> 00:28:35,222
HE SWINGS THE SOUTH IMPROVEMENT
COMPANY LIKE AN AX.
579
00:28:35,324 --> 00:28:38,592
IT'S KNOWN AS
THE CLEVELAND MASSACRE.
580
00:28:38,694 --> 00:28:43,230
YOU SEE, THE SOUTH IMPROVEMENT
SCHEME IS BOUND TO WORK.
581
00:28:43,332 --> 00:28:47,200
IT MEANS AN ABSOLUTE CONTROL
BY US OF THE OIL BUSINESS.
582
00:28:47,302 --> 00:28:49,803
THERE IS NO CHANCE
FOR ANYONE ON THE OUTSIDE.
583
00:28:49,905 --> 00:28:52,439
BUT WE WILL GIVE EVERYBODY
A CHANCE TO COME IN.
584
00:28:52,541 --> 00:28:56,042
¶¶
585
00:28:56,145 --> 00:28:58,512
I WILL GIVE YOU STANDARD OIL
COMPANY STOCK OR CASH,
586
00:28:58,614 --> 00:29:01,481
AS YOU PREFER,
FOR THE VALUE WE PUT UPON IT.
587
00:29:01,583 --> 00:29:03,483
I ADVISE YOU
TO TAKE THE STOCK.
588
00:29:03,585 --> 00:29:06,720
¶¶
589
00:29:06,822 --> 00:29:08,221
TAKE STANDARD OIL STOCK,
590
00:29:08,323 --> 00:29:10,624
AND YOUR FAMILY
WILL NEVER KNOW WANT.
591
00:29:13,962 --> 00:29:17,164
VERY WELL, MR. ROCKEFELLER.
YOU HAVE A DEAL.
592
00:29:17,266 --> 00:29:18,498
YOU MAY BUY MY REFINERY
593
00:29:18,567 --> 00:29:20,400
IN EXCHANGE FOR STOCK
IN STANDARD OIL.
594
00:29:20,502 --> 00:29:21,902
EXCELLENT.
595
00:29:24,673 --> 00:29:28,675
West:
HE UNDERSTOOD THAT IF YOU BOUGHT
UP A LOT OF YOUR COMPETITORS,
596
00:29:28,777 --> 00:29:31,812
BUILT MONOPOLY POWER,
YOU COULD THEN SET THE PRICE.
597
00:29:31,914 --> 00:29:35,715
AND SO THAT WOULD ALLOW HIM
TO MAXIMIZE HIS PROFITS.
598
00:29:35,818 --> 00:29:36,917
THANK YOU, SIR.
599
00:29:37,019 --> 00:29:38,785
AND THAT REALLY
PROPELLED HIS WEALTH.
600
00:29:38,887 --> 00:29:42,322
¶¶
601
00:29:42,424 --> 00:29:44,624
Narrator: BY MARCH 1872,
602
00:29:44,726 --> 00:29:48,361
OIL REFINING IN CLEVELAND
BELONGS TO ROCKEFELLER.
603
00:29:48,463 --> 00:29:50,363
¶¶
604
00:29:53,569 --> 00:29:57,170
WHEN WORD ABOUT THE SOUTH
IMPROVEMENT COMPANY GETS OUT,
605
00:29:57,272 --> 00:30:01,174
THINGS TURN DARK AND DANGEROUS.
606
00:30:01,276 --> 00:30:04,511
Yergin:
WHEN THE SOUTH IMPROVEMENT
COMPANY BECAME KNOWN,
607
00:30:04,613 --> 00:30:09,716
IT CREATED MASSIVE COMMOTION
IN TITUSVILLE.
608
00:30:09,818 --> 00:30:12,018
ALL THE PRODUCERS CONVERGED,
609
00:30:12,120 --> 00:30:14,187
DENOUNCING
THE SOUTH IMPROVEMENT COMPANY,
610
00:30:14,289 --> 00:30:18,692
BUT DENOUNCING, IN PARTICULAR,
JOHN D. ROCKEFELLER.
611
00:30:18,794 --> 00:30:22,462
THEY'RE INCREDIBLY ANGRY
AT THIS INSTITUTION.
612
00:30:22,564 --> 00:30:24,464
Narrator:
A DAILY BLACKLIST IS PUBLISHED
613
00:30:24,566 --> 00:30:27,067
NAMING ALL THE SOUTH IMPROVEMENT
CONSPIRATORS.
614
00:30:27,169 --> 00:30:29,603
McElwee: AND ANYBODY
WHO APPEARED ON THAT BLACKLIST,
615
00:30:29,705 --> 00:30:33,273
YOU WERE SUBJECT TO AT LEAST
VANDALISM OF YOUR PROPERTY.
616
00:30:33,375 --> 00:30:35,809
AND IF YOU WERE THE TYPICAL
PRODUCER IN THOSE DAYS,
617
00:30:35,911 --> 00:30:37,611
YOU OWED THE BANK FOR THOSE.
618
00:30:37,713 --> 00:30:39,312
THAT RUINED YOU.
619
00:30:39,414 --> 00:30:41,281
HERE'S YOUR OIL,
MR. ROCKEFELLER.
620
00:30:41,383 --> 00:30:44,384
Narrator: ANGER IN THE OIL
FIELDS FLARES INTO VIOLENCE.
621
00:30:44,519 --> 00:30:47,888
HOPE YOU GET
A GOOD PRICE FOR IT.
622
00:30:47,990 --> 00:30:50,190
IT WAS THE RAILROADS
THAT CAME UP WITH THE IDEA
623
00:30:50,292 --> 00:30:52,292
OF THE SOUTH
IMPROVEMENT COMPANY.
624
00:30:52,394 --> 00:30:55,595
AND THIS IS WHAT
INFLAMED THE OIL REGIONS.
625
00:30:55,697 --> 00:31:00,300
BUT IT WAS ROCKEFELLER
WHO WAS BLAMED FOR IT.
626
00:31:00,402 --> 00:31:04,437
Narrator: ROCKEFELLER BECOMES
A HOUSEHOLD NAME...
627
00:31:04,539 --> 00:31:07,040
BUT IS SEEN AS ENEMY NUMBER ONE.
628
00:31:07,142 --> 00:31:08,575
[ ALL CLAMORING ]
629
00:31:08,677 --> 00:31:10,443
West:
ROCKEFELLER BECAME A TARGET.
630
00:31:10,545 --> 00:31:13,446
LIKE, PEOPLE WERE UPSET
WITH HIS BUSINESS PRACTICES.
631
00:31:13,548 --> 00:31:16,549
THERE WERE A LOT OF NEGATIVE
PRESS STORIES ABOUT HIM.
632
00:31:16,652 --> 00:31:19,152
[ CLAMORING CONTINUES ]
633
00:31:19,254 --> 00:31:21,488
Nelson: TOM SCOTT ENDS UP
SMELLING LIKE A ROSE.
634
00:31:21,590 --> 00:31:24,991
AND JOHN D. ROCKEFELLER
ENDS UP WITH A BLACK EYE.
635
00:31:28,196 --> 00:31:30,530
Narrator: DESPITE HIS IMAGE
TAKING A BEATING,
636
00:31:30,632 --> 00:31:34,267
ROCKEFELLER IS ABOUT TO BE GIVEN
A HUGE OPPORTUNITY.
637
00:31:34,369 --> 00:31:36,403
¶¶
638
00:31:40,475 --> 00:31:45,211
IN 1873,
AMERICA'S ECONOMY IS BOOMING.
639
00:31:45,314 --> 00:31:47,280
[ TRAIN WHISTLE BLOWS ]
640
00:31:47,382 --> 00:31:49,816
33,000 MILES OF NEW TRACK
641
00:31:49,918 --> 00:31:54,821
ARE LAID ACROSS THE COUNTRY
BETWEEN 1868 AND 1873.
642
00:31:56,792 --> 00:31:59,159
BUT TROUBLE IS BREWING.
643
00:31:59,261 --> 00:32:02,963
EXTRA, EXTRA!
READ ALL ABOUT IT!
644
00:32:03,065 --> 00:32:06,032
WHAT STARTED OUT
AS A CASH CRISIS IN EUROPE
645
00:32:06,134 --> 00:32:08,735
QUICKLY SPREADS TO AMERICA.
646
00:32:08,837 --> 00:32:11,771
BY SEPTEMBER,
BANKS START FAILING.
647
00:32:11,873 --> 00:32:13,506
BUSINESSES GO UNDER.
648
00:32:13,608 --> 00:32:16,209
THE ECONOMY GOES BUST.
649
00:32:16,311 --> 00:32:18,411
West: THE PANIC OF 1873
650
00:32:18,513 --> 00:32:21,614
WAS ONE OF OUR COUNTRY'S
WORST ECONOMIC DEPRESSIONS.
651
00:32:21,717 --> 00:32:23,650
IT LASTED FOR SIX YEARS
652
00:32:23,752 --> 00:32:27,120
AND ALMOST BROUGHT AMERICAN
CAPITALISM TO ITS KNEES.
653
00:32:27,222 --> 00:32:29,122
¶¶
654
00:32:29,224 --> 00:32:31,324
Narrator:
RAILROADS GO BANKRUPT.
655
00:32:31,426 --> 00:32:33,960
OIL'S CHEAPER THAN WATER.
656
00:32:34,062 --> 00:32:37,364
REFINERIES ACROSS THE COUNTRY
ARE UP FOR GRABS.
657
00:32:37,466 --> 00:32:40,500
Yergin: EVERYBODY'S FINANCES
WERE IN PERILOUS CONDITION
658
00:32:40,602 --> 00:32:41,968
EXCEPT ROCKEFELLER.
659
00:32:42,070 --> 00:32:47,307
AND ROCKEFELLER PUT THAT CRISIS
TO VERY GOOD USE BY USING IT
660
00:32:47,409 --> 00:32:51,277
TO CONTINUE TO CONSOLIDATE
REFINERIES IN OTHER CITIES,
661
00:32:51,380 --> 00:32:55,949
BUILDING UP TO HIS GOAL OF
CONTROLLING AMERICAN REFINING.
662
00:32:56,051 --> 00:32:57,650
Rockefeller:
THE WAY TO MAKE MONEY
663
00:32:57,753 --> 00:33:01,755
IS TO BUY WHEN BLOOD IS RUNNING
IN THE STREETS.
664
00:33:01,857 --> 00:33:05,892
Narrator: ROCKEFELLER GOES
ON A BUYING SPREE.
665
00:33:05,994 --> 00:33:09,963
PROBLEM WAS THAT IT WAS ILLEGAL
TO OWN REFINERIES IN OTHER
STATES.
666
00:33:10,065 --> 00:33:13,867
SO WHAT HE WOULD DO
IS SECRETLY ACQUIRE CONTROL
667
00:33:13,969 --> 00:33:17,670
OF THE LARGEST OR ONE OF
THE BEST REFINERIES IN THE CITY,
668
00:33:17,773 --> 00:33:22,809
USE THAT REFINERY TO BUY UP
OTHER REFINERIES IN THAT CITY,
669
00:33:22,911 --> 00:33:25,211
BUT THE REAL OWNERSHIP
OF EVERYTHING
670
00:33:25,313 --> 00:33:28,081
WOULD SECRETLY GO BACK
TO STANDARD OIL.
671
00:33:28,183 --> 00:33:30,683
¶¶
672
00:33:30,786 --> 00:33:34,554
Narrator: STANDARD OIL NOW HAS
A MONOPOLY IN REFINING,
673
00:33:34,656 --> 00:33:39,059
BUT ROCKEFELLER WANTS EVEN MORE.
674
00:33:39,161 --> 00:33:41,928
West: WHAT ROCKEFELLER DID
WAS TO SPECIALIZE
675
00:33:42,030 --> 00:33:45,632
IN BOTH HORIZONTAL
AS WELL AS VERTICAL INTEGRATION.
676
00:33:45,734 --> 00:33:49,335
HE WOULD DIVERSIFY
INTO OIL PIPELINES,
677
00:33:49,438 --> 00:33:54,841
OIL CARS ON THE RAILROADS,
AND TRANSPORTATION.
678
00:33:54,943 --> 00:33:58,845
THAT'S THE RECIPE
FOR WEALTH CREATION.
679
00:33:58,947 --> 00:34:02,849
Narrator:
THE MONEY IS IN PIPELINES.
680
00:34:02,951 --> 00:34:05,985
MOVING OIL THROUGH PIPELINES
INSTEAD OF OVER RAILS
681
00:34:06,088 --> 00:34:08,321
THREATENS TOM SCOTT,
682
00:34:08,423 --> 00:34:12,392
WHO RELIES HEAVILY ON PROFITS
FROM RAIL SHIPMENTS OF OIL.
683
00:34:12,494 --> 00:34:14,294
Scott: DAMN ROCKEFELLER.
684
00:34:14,396 --> 00:34:16,830
GETTING INTO
THE OIL TRANSPORT BUSINESS
685
00:34:16,932 --> 00:34:20,500
WILL ONLY GIVE HIM YET
MORE POWER TO DICTATE RATES.
686
00:34:20,602 --> 00:34:22,535
I MUST STOP HIM.
687
00:34:22,637 --> 00:34:26,306
¶¶
688
00:34:26,408 --> 00:34:28,241
Narrator:
SCOTT PULLS OUT THE BIG GUNS.
689
00:34:28,343 --> 00:34:29,843
LOOKING GOOD, MEN!
690
00:34:29,945 --> 00:34:33,213
JOSEPH POTTS,
OWNER OF EMPIRE TRANSPORTATION,
691
00:34:33,315 --> 00:34:35,815
IS A TITAN
EQUAL IN POWER TO ROCKEFELLER.
692
00:34:35,917 --> 00:34:37,817
WHOA, WHOA. RIGHT HERE,
RIGHT HERE. BRING IT DOWN.
693
00:34:37,919 --> 00:34:42,155
IN 1877, POTTS OWNS THOUSANDS
OF TANK CARS, STEAMSHIPS,
694
00:34:42,257 --> 00:34:44,424
AND OIL TERMINALS.
695
00:34:44,526 --> 00:34:47,760
THERE ARE THREE GREAT DIVISIONS
IN THE PETROLEUM BUSINESS --
696
00:34:47,863 --> 00:34:50,597
DRILLING, TRANSPORTATION,
AND REFINING.
697
00:34:50,699 --> 00:34:53,533
WHEN NEW OIL FIELDS OPEN UP,
SCOTT WANTS POTTS
698
00:34:53,635 --> 00:34:57,270
TO BUILD UP REFINERIES
AND SQUEEZE ROCKEFELLER OUT.
699
00:34:57,372 --> 00:34:58,805
HE COULD WIPE US OUT.
700
00:34:58,907 --> 00:35:01,374
SO, WHAT DO YOU PROPOSE?
701
00:35:01,476 --> 00:35:05,278
WE SHALL FORCE THIS TYRANT
TO HIS KNEES AND MAKE HIM BEG.
702
00:35:05,380 --> 00:35:08,214
Nelson:
TOM SCOTT AND POTTS UNDERSTAND
703
00:35:08,316 --> 00:35:11,217
THAT ROCKEFELLER IS HATED,
IS DESPISED ON THE OIL FIELD.
704
00:35:11,319 --> 00:35:15,288
AND SO THEY BELIEVE THAT
BY APPROACHING THE DRILLERS,
705
00:35:15,390 --> 00:35:18,024
THAT THEY CAN GET THEM
TO TURN AGAINST STANDARD OIL.
706
00:35:18,126 --> 00:35:21,060
WE CANNOT ALLOW STANDARD
TO BE THE ONLY SHIPPER OF OIL.
707
00:35:21,163 --> 00:35:22,629
YOU MUST BUILD UP
YOUR REFINERIES
708
00:35:22,731 --> 00:35:24,364
IN COMPETITION WITH STANDARD.
709
00:35:24,466 --> 00:35:25,899
THE PENN
WILL SUBSIDIZE YOU.
710
00:35:26,001 --> 00:35:27,000
AGREED.
711
00:35:27,068 --> 00:35:30,637
HE TRIES TO CLOSE
STANDARD OIL OUT.
712
00:35:30,739 --> 00:35:32,505
THE DRILLERS
WILL COME IN WITH US.
713
00:35:32,607 --> 00:35:33,840
THEY WOULD TAKE GREAT JOY
714
00:35:33,942 --> 00:35:37,010
IN TURNING MR. ROCKEFELLER'S
MONEY AWAY.
715
00:35:37,112 --> 00:35:41,381
POTTS REASONED THAT HE COULD
BUY OIL FROM THE INDEPENDENTS
716
00:35:41,483 --> 00:35:43,783
AND MOVE IT
TO THE EAST COAST FOR REFINING
717
00:35:43,885 --> 00:35:48,855
INDEPENDENT OF ROCKEFELLER'S
DRILLING, REFINING,
718
00:35:48,957 --> 00:35:52,625
AND TRANSPORTATION NETWORKS.
719
00:35:52,727 --> 00:35:55,895
Narrator: JOSEPH POTTS AGREES
TO START BUILDING REFINERIES
720
00:35:55,997 --> 00:35:57,931
BECAUSE HE AND SCOTT
FEAR STANDARD OIL
721
00:35:58,033 --> 00:36:00,934
BECOMING THE NATION'S
ONLY REFINERY.
722
00:36:01,036 --> 00:36:03,703
¶¶
723
00:36:03,805 --> 00:36:06,105
ROCKEFELLER DEMANDS A MEETING.
724
00:36:10,478 --> 00:36:14,414
McElwee:
ROCKEFELLER SAW IT AS A THREAT
TO WHAT HE HAD BEEN DOING.
725
00:36:14,516 --> 00:36:15,915
HERE, I HAVE
GONE OUT OF MY WAY
726
00:36:16,017 --> 00:36:17,550
TO BE FRIENDLY
TO THE PENNSYLVANIA
727
00:36:17,652 --> 00:36:19,686
IN THE ALLOTMENT
OF OIL SHIPMENTS.
728
00:36:19,788 --> 00:36:24,157
ROCKEFELLER CALLS POTTS
A PIRATE.
729
00:36:24,259 --> 00:36:26,926
AND NOW YOU ARE PERMITTING
YOUR ASSOCIATE, COLONEL POTTS,
730
00:36:27,028 --> 00:36:29,963
ACTUALLY TO INVADE
THE CENTRAL ASSOCIATION'S FIELD.
731
00:36:30,065 --> 00:36:32,865
WHY, IT'S NOTHING LESS
THAN PIRACY.
732
00:36:32,968 --> 00:36:35,668
STANDARD OIL
HAS GOT THE FINANCIAL POWER
733
00:36:35,770 --> 00:36:37,804
TO DESTROY
THE PENNSYLVANIA RAILROAD,
734
00:36:37,906 --> 00:36:40,473
AND HE'S READY
TO MAKE IT HAPPEN.
735
00:36:40,575 --> 00:36:44,077
YOU MUST CALL OFF
YOUR POACHER POTTS.
736
00:36:44,179 --> 00:36:46,946
YOUR WORDS SURPRISE ME,
ROCKEFELLER.
737
00:36:47,048 --> 00:36:48,982
THE EMPIRE OPERATES
OF ITS OWN ACCORD
738
00:36:49,084 --> 00:36:52,452
AND NOT BY THE DICTATES
OF THE PENNSYLVANIA.
739
00:36:52,554 --> 00:36:54,787
Narrator:
IT'S A DECLARATION OF WAR.
740
00:36:54,889 --> 00:36:58,658
WELL, THEN,
YOU LEAVE ME NO CHOICE.
741
00:36:58,760 --> 00:37:00,994
GOOD DAY, MR. SCOTT.
742
00:37:01,096 --> 00:37:03,429
¶¶
743
00:37:03,531 --> 00:37:04,998
VERY WELL, THEN.
744
00:37:07,736 --> 00:37:12,138
Nelson: JOHN D. ROCKEFELLER'S
RESPONSE IS DRASTIC.
745
00:37:12,240 --> 00:37:18,511
IT IS TO CLOSE DOWN,
TO STOP REFINING IN PITTSBURGH.
746
00:37:18,613 --> 00:37:20,246
YOU,
ARE YOU THE FOREMAN?
747
00:37:20,348 --> 00:37:22,649
-I WANT THIS PLACE SHUT DOWN.
-SIR?
748
00:37:22,751 --> 00:37:25,318
DID I MINCE MY WORDS?
I SAID SHUT DOWN THE REFINERY.
749
00:37:25,420 --> 00:37:27,787
DO NOT SHIP ONE BARREL
OF KEROSENE OUT OF HERE.
750
00:37:27,889 --> 00:37:30,290
YES, SIR.
751
00:37:30,392 --> 00:37:33,660
Narrator: WITHOUT ROCKEFELLER'S
REFINERIES SHIPPING ANY OIL,
752
00:37:33,762 --> 00:37:36,929
SCOTT'S ABOUT
TO LOSE BIG PROFITS.
753
00:37:37,032 --> 00:37:40,667
McElwee: ALL OF THAT REVENUE
WAS TAKEN AWAY FROM SCOTT.
754
00:37:40,769 --> 00:37:44,337
IT WAS DEVASTATING.
755
00:37:44,439 --> 00:37:48,174
Narrator:
SCOTT'S PLOY BACKFIRES BIG TIME.
756
00:37:48,276 --> 00:37:51,911
NOW HIS RAILROAD
IS IN SERIOUS TROUBLE.
757
00:37:52,013 --> 00:37:53,880
Nelson: THE RESPONSE
ON THE PART OF SCOTT
758
00:37:53,982 --> 00:37:55,682
IS TO DOUBLE
THE SIZE OF THE TRAINS.
759
00:37:55,784 --> 00:37:57,350
HE MAKES PEOPLE
WORK EXTRA HOURS.
760
00:37:57,452 --> 00:37:59,719
HE'S FACING A CASH CRUNCH,
761
00:37:59,821 --> 00:38:02,989
AND SO HE CUTS
RAILROAD WORKERS' PAY BY 10%.
762
00:38:03,091 --> 00:38:04,891
HOW MANY HOURS IN A DAY?
763
00:38:04,993 --> 00:38:08,828
[ ALL GRUMBLING ]
764
00:38:08,930 --> 00:38:10,563
Narrator: WORKERS STRIKE.
765
00:38:10,665 --> 00:38:14,534
¶¶
766
00:38:14,636 --> 00:38:16,035
THE STAGE IS SET
767
00:38:16,137 --> 00:38:19,639
FOR THE BLOODY SHOWDOWN
BETWEEN THESE TWO TITANS.
768
00:38:19,741 --> 00:38:21,240
[ MEN SHOUTING, GUNSHOT ]
769
00:38:21,343 --> 00:38:22,942
¶¶
770
00:38:25,780 --> 00:38:29,449
¶¶
771
00:38:29,551 --> 00:38:31,517
Narrator: BY 1877,
772
00:38:31,619 --> 00:38:35,021
THE GILDED AGE IS TRANSFORMING
AMERICAN INDUSTRY.
773
00:38:35,123 --> 00:38:37,957
ONLY THE CHEAPEST
AND BEST SURVIVE.
774
00:38:38,059 --> 00:38:41,094
SO, WHAT DO YOU PROPOSE?
775
00:38:41,196 --> 00:38:44,230
TOM SCOTT ENCOURAGES
TRANSPORT BARON JOSEPH POTTS
776
00:38:44,332 --> 00:38:46,866
TO GO HEAD-TO-HEAD
WITH ROCKEFELLER.
777
00:38:46,968 --> 00:38:50,903
WE SHALL FORCE THIS TYRANT
TO HIS KNEES AND MAKE HIM BEG.
778
00:38:51,005 --> 00:38:53,473
ROCKEFELLER RESPONDS
WITH VENGEANCE.
779
00:38:53,575 --> 00:38:55,775
YOU,
I WANT THIS PLACE SHUT DOWN.
780
00:38:55,877 --> 00:38:58,811
FIRST THING HE DID, HE SHUT DOWN
THE PITTSBURGH REFINERIES.
781
00:38:58,913 --> 00:39:01,180
AND BY SHUTTING DOWN
THE PITTSBURGH REFINERIES,
782
00:39:01,282 --> 00:39:03,449
HE DENIED
ALL THAT OIL FREIGHT BUSINESS
783
00:39:03,551 --> 00:39:04,917
TO THE PENNSYLVANIA RAILROAD.
784
00:39:05,019 --> 00:39:06,519
[ TRAIN WHISTLE BLOWS ]
785
00:39:06,621 --> 00:39:09,021
IT WAS HUGE!
786
00:39:09,124 --> 00:39:12,992
Narrator: WITHOUT OIL TO SHIP,
SCOTT LOSES MILLIONS.
787
00:39:13,094 --> 00:39:16,329
Scott: DAMN ROCKEFELLER.
788
00:39:16,431 --> 00:39:19,265
Narrator: ROCKEFELLER MOVES IN
FOR THE KILL.
789
00:39:19,367 --> 00:39:21,501
BUY UP ALL THE OIL
ON THE MARKET.
790
00:39:21,603 --> 00:39:22,902
PAY WHATEVER IS NECESSARY,
791
00:39:23,004 --> 00:39:25,605
BUT DO NOT LET ONE DROP
BE SOLD TO EMPIRE.
792
00:39:25,707 --> 00:39:30,743
IN THE END, THE BATTLE BETWEEN
TOM SCOTT AND THE EMPIRE LINE
793
00:39:30,845 --> 00:39:32,612
AND ROCKEFELLER AND STANDARD OIL
794
00:39:32,714 --> 00:39:34,714
CAME DOWN
TO WHO HAD THE DEEPEST POCKETS.
795
00:39:34,816 --> 00:39:38,818
POTTS WILL BE BROUGHT
TO HIS KNEES.
796
00:39:38,887 --> 00:39:41,521
[ MEN GRUMBLING ]
797
00:39:41,623 --> 00:39:46,993
Narrator:
IN 3 MONTHS, THE PENNSYLVANIA
LOSES $1 MILLION IN REVENUE.
798
00:39:47,095 --> 00:39:52,198
SCOTT FIRES HUNDREDS OF WORKERS
AND SLASHES SALARIES.
799
00:39:52,300 --> 00:39:53,766
THINGS GET UGLY.
800
00:39:53,868 --> 00:39:55,334
[ MEN SHOUTING ANGRILY ]
801
00:39:55,437 --> 00:39:57,904
Churella: THE PENNSYLVANIA
RAILROAD HEMORRHAGED MONEY.
802
00:39:58,006 --> 00:39:59,772
IT WAS FORCED TO CUT WAGES,
803
00:39:59,874 --> 00:40:02,909
ALL OF WHICH CONTRIBUTED
TO GROWING WORKER UNREST
804
00:40:03,011 --> 00:40:06,779
THAT CULMINATED IN A MASSIVE
STRIKE IN THE SUMMER OF 1877.
805
00:40:06,881 --> 00:40:08,581
[ SHOUTING CONTINUES ]
806
00:40:08,683 --> 00:40:10,149
AND OVER THE NEXT FEW DAYS,
807
00:40:10,251 --> 00:40:14,120
THERE WAS WIDESPREAD LOOTING,
ARSON ATTACKS,
808
00:40:14,222 --> 00:40:16,556
THE BURNING OF PENNSYLVANIA
RAILROAD FACILITIES.
809
00:40:16,658 --> 00:40:18,958
Man: LET'S BURN THE RAILROAD!
DAMN SCOTT!
810
00:40:19,060 --> 00:40:22,395
THEY WERE ANY NUMBER OF PEOPLE
WHO HAD BEEN MADE ANGRY
811
00:40:22,497 --> 00:40:26,032
BY THE ECONOMIC CONDITIONS.
812
00:40:26,134 --> 00:40:27,834
[ SHOUTING ]
813
00:40:27,936 --> 00:40:30,937
Narrator: THE GREAT
RAILROAD STRIKE OF 1877
814
00:40:31,039 --> 00:40:33,172
BECOMES ONE OF THE BLOODIEST
LABOR BATTLES
815
00:40:33,274 --> 00:40:35,141
IN AMERICAN HISTORY.
816
00:40:35,243 --> 00:40:37,743
AND IT WAS REALLY
DIRECTLY CONNECTED
817
00:40:37,846 --> 00:40:40,246
TO TOM SCOTT'S WAR
WITH JOHN D. ROCKEFELLER,
818
00:40:40,348 --> 00:40:43,182
TRYING TO SQUEEZE THE WORKERS
JUST A LITTLE BIT TOO MUCH
819
00:40:43,284 --> 00:40:45,618
IN HIS BATTLE WITH ROCKEFELLER.
820
00:40:45,720 --> 00:40:47,553
[ MEN SHOUTING ]
821
00:40:47,655 --> 00:40:50,223
[ GUNSHOTS ]
822
00:40:50,325 --> 00:40:52,391
¶¶
823
00:40:52,494 --> 00:40:57,663
Narrator: BY THE TIME IT'S OVER,
20 MEN ARE DEAD...
824
00:40:57,765 --> 00:41:01,267
THE DAMAGE, IN THE MILLIONS.
825
00:41:01,369 --> 00:41:04,570
Churella: THE RIOTS OF 1877
COST THE PENNSYLVANIA RAILROAD
826
00:41:04,672 --> 00:41:09,475
SOMETHING IN THE ORDER
OF $5 MILLION IN PHYSICAL DAMAGE
827
00:41:09,544 --> 00:41:13,279
AND IN LOST REVENUE
FROM THE LINES BEING CLOSED.
828
00:41:13,381 --> 00:41:15,214
¶¶
829
00:41:23,525 --> 00:41:25,291
THERE WAS NO CHOICE
830
00:41:25,393 --> 00:41:28,094
BUT FOR THE PENNSYLVANIA
RAILROAD TO CAPITULATE.
831
00:41:31,599 --> 00:41:33,299
Narrator:
DESPERATE FOR FUNDS,
832
00:41:33,401 --> 00:41:38,204
SCOTT DECIDES TO LIQUIDATE
POTTS' EMPIRE LINE.
833
00:41:38,306 --> 00:41:41,107
ROCKEFELLER IS THE ONLY BUYER.
834
00:41:41,209 --> 00:41:45,745
Churella:
AND SO TOM SCOTT STRUCK A DEAL
WITH JOHN D. ROCKEFELLER.
835
00:41:45,813 --> 00:41:49,448
Flagler:
OH, I DO NOT IMAGINE THIS WILL
SIT WELL WITH MR. POTTS.
836
00:41:49,551 --> 00:41:52,885
SCOTT IS DEMANDING THAT ALL
OF EMPIRE'S HOLDINGS ARE SOLD.
837
00:41:52,987 --> 00:41:55,855
Nelson: AND THE DEAL IS
THAT JOHN D. ROCKEFELLER
838
00:41:55,957 --> 00:41:58,791
HAS TO BUY ALL OF EMPIRE
TRANSPORTATION COMPANY,
839
00:41:58,893 --> 00:42:03,396
ALL THE CARS, ALL THE TUGBOATS,
ALL THE DOCKS,
840
00:42:03,498 --> 00:42:06,566
ALL THE STEAMSHIPS
THAT RUN ACROSS THE ATLANTIC,
841
00:42:06,668 --> 00:42:10,570
THE WHOLE KIT AND KABOODLE
FOR $3.4 MILLION.
842
00:42:10,672 --> 00:42:15,908
BUT I SEE SCOTT IS NOT MAKING IT
EASY ON THE PAYMENT AGREEMENT.
843
00:42:15,977 --> 00:42:19,378
IT WILL TAKE SOME DOING
TO RAISE THE NECESSARY CAPITAL.
844
00:42:19,480 --> 00:42:23,382
¶¶
845
00:42:23,484 --> 00:42:26,886
Narrator:
SCOTT HAS ONE CARD LEFT TO PLAY.
846
00:42:26,988 --> 00:42:29,255
ROCKEFELLER MUST MAKE
THE FIRST PAYMENT
847
00:42:29,357 --> 00:42:34,126
OF $2.5 MILLION
IN JUST 24 HOURS.
848
00:42:34,228 --> 00:42:38,464
NOBODY THOUGHT THAT ROCKEFELLER
COULD RAISE THE MONEY.
849
00:42:38,566 --> 00:42:41,167
MR. JENKINS.
MR. JENKINS!
850
00:42:41,269 --> 00:42:43,035
YOU CANNOT DAWDLE HERE.
I NEED IT ALL.
851
00:42:43,171 --> 00:42:45,638
IT'S A TESTAMENT TO THE FAITH
THAT THE BANKERS
852
00:42:45,740 --> 00:42:48,574
OF CLEVELAND PARTICULARLY HAD
IN JOHN D. ROCKEFELLER.
853
00:42:48,676 --> 00:42:51,811
GIVE ME WHAT YOU HAVE.
I MUST CATCH THE NOON TRAIN.
854
00:42:51,913 --> 00:42:53,646
YOU CAN COUNT ON US.
855
00:42:53,748 --> 00:42:57,183
HE RAISED $3 MILLION
IN SOMETHING LIKE 24 HOURS,
856
00:42:57,285 --> 00:42:59,085
$3 MILLION IN CASH.
857
00:42:59,187 --> 00:43:00,987
THANK YOU.
858
00:43:01,089 --> 00:43:04,056
Narrator: ROCKEFELLER'S ABILITY
TO RAISE SUCH A HUGE SUM
859
00:43:04,158 --> 00:43:06,325
STUNS THE BUSINESS WORLD.
860
00:43:06,427 --> 00:43:09,261
Churella: BY 1877,
861
00:43:09,364 --> 00:43:12,431
ROCKEFELLER WAS POISED TO BE
862
00:43:12,533 --> 00:43:16,202
NOT JUST THE DOMINANT OIL MAN
IN THE UNITED STATES,
863
00:43:16,304 --> 00:43:19,905
BUT THE DOMINANT OIL MAN
IN THE WORLD.
864
00:43:20,041 --> 00:43:25,811
Narrator:
ROCKEFELLER NOW CONTROLS 90% OF
AMERICA'S REFINED OIL BUSINESS.
865
00:43:25,913 --> 00:43:31,350
AT THE AGE OF 40, HE'S AMONG
THE NATION'S 20 RICHEST MEN.
866
00:43:31,452 --> 00:43:33,152
Churella: AT THE SAME TIME,
867
00:43:33,254 --> 00:43:36,088
SCOTT'S CAREER
WAS NEARLY AT ITS END,
868
00:43:36,190 --> 00:43:38,958
AND HE WAS IN ILL HEALTH.
869
00:43:39,060 --> 00:43:41,627
HE RESIGNED THE PRESIDENCY
IN 1880
870
00:43:41,729 --> 00:43:45,965
AND DIED THE FOLLOWING YEAR
A MAN STILL IN HIS 50s.
871
00:43:47,635 --> 00:43:51,137
McElwee: THERE WAS NO ONE
WHO DID WHAT ROCKEFELLER DID
872
00:43:51,239 --> 00:43:52,972
ON THE SCALE THAT HE DID,
873
00:43:53,074 --> 00:43:57,009
CREATED WHAT BECAME THE BASIS OF
THE MODERN GLOBAL OIL INDUSTRY
874
00:43:57,111 --> 00:43:59,979
AND TURNED IT INTO
A GLOBAL ENTERPRISE.
875
00:44:00,081 --> 00:44:02,014
¶¶
876
00:44:02,116 --> 00:44:05,484
Narrator: IN THE 1880s,
ELECTRICITY AND THE LIGHT BULB
877
00:44:05,586 --> 00:44:08,521
CAUSE KEROSENE SALES TO PLUMMET.
878
00:44:08,623 --> 00:44:11,791
FORTUNATELY FOR ROCKEFELLER,
THE AUTOMOBILE INDUSTRY
879
00:44:11,893 --> 00:44:16,796
IS ABOUT TO MAKE OIL REFINING
EVEN MORE PROFITABLE.
880
00:44:16,898 --> 00:44:19,598
GASOLINE WILL TRANSFORM
THE PLANET
881
00:44:19,701 --> 00:44:24,537
AND SEND ROCKEFELLER'S FORTUNE
INTO OVERDRIVE.
882
00:44:24,639 --> 00:44:28,574
AT THE AGE OF 97,
JOHN D. ROCKEFELLER DIES
883
00:44:28,676 --> 00:44:31,410
AS THE WORLD'S RICHEST MAN.