True, but SOCU has the rights to the name even though it is not the original Standard Oil Company USA, Inc. A picture says a thousand words with that Standard Oil authentic emblem within the SOCU website:
It's like a smaller version as the original company which was broken up into a few parts because of keeping the Standard Oil Company USA, Inc. from monopolizing the industry. From the link below… John D. Rockefeller was a founder, chairman and major shareholder of that original Standard Oil. By 1890, Standard Oil controlled 88% of the refined oil flows in the United States. Later in the early 1900’s it was up to over 90% before going back down to over 60% controlled. To keep Standard Oil from monopolizing the oil industry, the US Supreme Court ruled that Standard Oil must be dissolved under the Sherman Antitrust Act and split into 34 companies.
I think with the things that will be unfolding, it doesn’t matter to know the exact historical origination of SOCU, but I’ll maybe do a little research at some point in time to research the exact history if I get through to the CEO just for an FYI.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.