The Prize: The Epic Quest for Oil, Money, and Power

by Daniel Yergin

But his uncle Andrew had instilled in him the lesson that such was not the way to run a serious business. Rather, the aim should be to integrate—to control every stage of operations. “The real way to make a business out of petroleum,” said Andrew, was “to develop it from end to end; to get the raw material out of the ground, refine it, manufacture it, distribute it.” Any other way, and one was at the mercy of Standard Oil.