Rockefeller knows that drilling for oil is a gamble

filled with uncertainty.

And since he doesn't believe in luck,

he starts looking for a way to make money from oil without the risk.

He had a mind for efficiency.

And there was probably something in him

that looked at the production process and saw how wasteful that was.

In the first place you drill wells, and they turn up dry.

And then you drill wells and they hit a gusher,

and half the oil would be lost.

And that offended his sense of efficiency.

Rockefeller knows there's a better way.

Today, everybody wants to be an entrepreneur.

They've heard these great stories, you know, about Apple.

But, you know what, when you start a company,

you can think what the revenues are gonna be,

how much it's gonna be worth to shareholders,

but you always need a technical element.

You need somebody who knows how to do it and build the things.

You need the scientists.

Refining oil turns crude from the ground into kerosene,

a clean-burning fuel that can be used in lamps.

Once the oil gets to three-hundred and fifty degrees,

the kerosene starts to vaporize.

Then once it's cooled,

you have a stable, pure product.

How much to produce a gallon?

Fifty, sixty cents. I don't know.

Rockefeller's insight puts him

one step ahead of his competitors.

He believes that while gamblers drill for oil,

businessmen refine it.

Whoever could control the refining process

could very well have the whole industry.