Answers to quiz 1

After grading each quiz, I copy  verbatim two good answers.  My comments [if any] are placed in brackets.

A. Towards the end of the 19th century (1892-93) the Rothschilds were seeking to create a monopoly of Russian oil while Standard Oil was seeming to do the same with American oil.  The Rothschilds joined bys the Nobels were successful in creating such a monopoly.  However, Standard Oil, which controlled about 85-90% of American oil refineries, failed to create alliances with  the remaining independent oil refineries in America.

Standard oil goes on to try and ally with Samuel, and after that fails makes another attempt at creating a global cartel with the Rothschilds and Nobels.  In this new arrangement, the Russians [viz., capitalists exploiting Russian sources of oil] would receieve 25% of the export profits [actually, markets] and Standard Oil would receive 75%.  Strong opposition by the Russian government meant that this attempt, like the first, failed.  Following this second failure, Standard Oil decides to try to create a global monopoly of oil not by allying with the Russians but by defeating them in business.

B.M.

B. In 1892 and 1893 Therewas an attempt by the Nobles, Rothschilds and Standard Oil to  try to control [?word?] all the oil productio in the world and divide it [viz., world markets] among themselves.  Baron  Alphonse, the head of the French Rothschilds,was invited to 26 Broadway, NY, the headquarters of Standard Oil  Company to meet with the key men at Standard Oil.  The Standard Oil men came away from the meeting convinced that a deal would go through.  The Nobels joined by the Rothschilds actually succeeded in  getting all the Russian oil production to form a common front.  The only problem was that Standard Oil could not devliver the one [?word?] missing element, the independent American producers and refiners.  As a result, the proposed agreement collapsed.  However, Standard Oil again tried to create a grand alliance and actually signed with the Nobels and the Rothschilds.  Unfortunately, the agreement never came into force, mainly because of opposition by the Russian government.  So, once again an attempt by the Nobels, Rothschilds and Stnandard Oil to achieve a  global cartel in oil production faileld.

A.P.