Editing Amoco (section)

===Purchase of American Oil Company===
After working for Standard Oil, Blaustein eventually saved enough capital<ref name="JTAObituary">{{Cite web |date=2015-03-20 |title=Louis Blaustein, Oil Magnate, Philanthropist, Dead at 68 |url=https://www.jta.org/archive/louis-blaustein-oil-magnate-philanthropist-dead-at-68 |access-date=2024-10-23 |website=Jewish Telegraphic Agency |language=en-US}}</ref> to found his own oil company with his son in 1910. They called it the American Oil Company (AMOCO).<ref name="Radermarcus">{{Cite book |last=Marcus |first=Jacob Rader |url=https://books.google.com/books?id=HHNrnexojzYC&q=Amoco+&pg=PA264E |title=United States Jewry, 1776-1985 |date=1989 |publisher=[[Wayne State University Press]]|isbn=978-0-8143-2186-7 |pages=276 |language=en}}</ref> Blaustein incorporated his business in 1922.<ref name=":1" /> 

In 1923, the Blausteins sold a half interest in American Oil to the [[Pan American Petroleum and Transport Company]] in exchange for a guaranteed supply of oil. Before this deal, Amoco was forced to depend on [[Standard Oil of New Jersey]], a competitor, for its supplies. Standard Oil of Indiana acquired Pan American in 1925, beginning [[John D. Rockefeller]]'s association with the Amoco name.<ref name=":1">{{cite news|url=http://www.webshells.com/crown/pages/history.htm |title=A Corporate History Rooted Deeply in Baltimore |newspaper=[[Washington Post]]|date=1999-02-01 |first=Martha |last=Hamilton |access-date=2010-06-02 |url-status=dead |archive-url=https://web.archive.org/web/20101201190120/https://webshells.com/crown/pages/history.htm |archive-date=2010-12-01 }}</ref> 

In the wake of the infamous [[Teapot Dome scandal|Teapot Dome Scandal]], it was discovered that [[Harry Ford Sinclair|Harry Sinclair]], Robert Stewart, Albert Fall, and others, had been laundering money through a shell company called Continental Trading Company and using the funds to buy more than $3 million in [[Liberty bond|Liberty Bonds]] during [[World War I]].<ref>{{Cite book |first=United States Congress |title=Congressional Record: Proceedings and Debates of the ... Congress |date=1930 |publisher=U.S. Government Printing Office |location=Washington, D.C. |pages=317 |language=en}}</ref> Though Stewart was never charged with a crime, [[John D. Rockefeller Jr.|John D. Rockefeller, Jr.]] demanded his resignation. After a lengthy proxy fight between the two, Stewart was eventually ousted in March 1929.<ref name=":8">{{Cite web |last=Banik |first=Jerry |date=October 2010 |title="Battle of the Century" In Whiting |url=https://www.wrhistoricalsociety.com/standard-oils-battle-of-the-century |access-date=2024-10-25 |website=Whiting-Robertsdale Historical Society |language=en-US}}</ref>