Petroleum Quotes
His foundation is trying to improve development and health in much of the world and he was remarking on how difficult it is if the local government is not attuned to it and supportive.
The only previous source of light in America had been whale oil or candles—both very expensive. Oil was discovered in Pennsylvania and refinery techniques developed to produce Kerosene. (Gasoline was too explosive and dangerous for home use.) Everyone’s standard of living depended on Kerosene at the time and John D. Rockefeller controlled the price everywhere except New York. There were no monopoly or antitrust laws when he gobbled up his competitors and he rapidly became the richest man in America and one of the most hated. His abuse of the system at the time led to the government regulation of monopolies and the antitrust laws. It was very courageous for the Atlantic Monthly to publish this article, as Rockefeller’s power extended all over the nation—but less in New York where the magazine was published.
Romanians of Jewish and German ancestry who left Romania and went to the West often sent money back to their families in Romania. So in a sense they were exports like oil which brought hard currency to Romania which needed it badly.
Explaining one of the major advantages of energy independence.
