Soon after the small refinery had been completed, a tax was anticipated to be imposed by the U S Government on imported crude. Standard of Indiana had only marketing outlets in the United States and knew they could not compete when selling imported oil that had been burdened with a toll, so they sold all their holdings to Standard Oil of New Jersey, who had marketing outlets around the world.
Shortly after the small refinery was finished, a tax was expected by the U.S. Government on imported crude oil. Standard of Indiana had only marketing channels in the United States and knew they could not compete when selling imported oil that had been burdened with a toll, so they sold all their holdings to Standard Oil of New Jersey, who had marketing outlets around the world.