World War I created a huge drain on U.S. oil. Fear of inadequate domestic reserves caused the U.S. government to urge its nationals to develop foreig… - Neil H. Jacoby

It comes as a shock to many, therefore to learn that the majority of the labor force in the United States works for government, unincorporated business, nonprofit institutions, or are self-employed. Less than half of the total labor force was employed in the entire corporate sector in 1969.Less than one-quarter worked for ‘large companies,’ defined for present purposes as those employing more than two hundred people.

Until 1837, companies were individually charted by ad hoc legislation. In that year Massachusetts enacted the first general corporation law, which was comparatively stringent in limiting corporate powers. Subsequently, motivated by the philosophy of free enterprise, as well as by competition among the states in charter-mongering, state corporation laws were progressively relaxed.

The foreign oil industry was radically affected by World War II. The burden of meeting Allied military requirements fell largely on the United States. Between December of 1941 and August of 1945, nearly 7 billion barrels of oil were produced to meet the requirements of the United States and its allies, almost 6 billion barrels of which came from the United States.