Why did Rockefeller say that the oil industry was threatened with disaster during the period of small scale competition?

Rockefeller believed the oil industry faced disaster due to rampant small-scale competition, which led to unstable prices and inefficient production methods. This fragmentation made it difficult for companies to maintain profitability and quality standards. He argued that such chaos threatened the industry's long-term viability, prompting the need for consolidation and the establishment of monopolistic control to stabilize the market and ensure sustainable growth. Ultimately, his vision of a more organized industry was realized through the formation of Standard Oil.