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2024-12-15 17:30:21 UTC
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Permalink“The behavior of the firms competing to supply fuels was guided by
corporate profit, self-interest, and, often, corruption. Rockefeller aimed
to get the world addicted to kerosene as the fuel for illumination. When he
penetrated markets in China that were using nut and vegetable oils for
illumination, as had been the case there for centuries, Rockefeller dumped
cheap kerosene on the Chinese market, undercutting the prices of the nut
and vegetable oil producers, even supplying free lamps designed to burn
kerosene. Once consumers had adapted to lighting devices that burned
kerosene and Rockefeller had his hooks in, he was free to hike prices. It
was a clear example of supply dictating the form of demand. Because
Rockefeller could leverage his control of the fuel supply, he was
effectively able to dictate the type of machine people would use”
Excerpt From
The Mysterious Case of Rudolf Diesel
Douglas Brunt
+1corporate profit, self-interest, and, often, corruption. Rockefeller aimed
to get the world addicted to kerosene as the fuel for illumination. When he
penetrated markets in China that were using nut and vegetable oils for
illumination, as had been the case there for centuries, Rockefeller dumped
cheap kerosene on the Chinese market, undercutting the prices of the nut
and vegetable oil producers, even supplying free lamps designed to burn
kerosene. Once consumers had adapted to lighting devices that burned
kerosene and Rockefeller had his hooks in, he was free to hike prices. It
was a clear example of supply dictating the form of demand. Because
Rockefeller could leverage his control of the fuel supply, he was
effectively able to dictate the type of machine people would use”
Excerpt From
The Mysterious Case of Rudolf Diesel
Douglas Brunt