Alumnus Jared Pine ’21 Shares Lessons on Growth and Innovation

Recently, Morristown Beard School welcomed alumnus Jared Pine '21 back to campus to speak with students in AS Economics class, and BFI club about innovation, industry, and the lessons that shape success over time.

During his visit, Mr. Pine shared several guiding ideas that have influenced his thinking, including: "keep doors open", "progress compounds", "be curious", and "process over product". He encouraged students to embrace lifelong learning, remain open to unexpected opportunities, and recognize that meaningful growth often happens gradually through consistent effort and reflection. These themes sparked thoughtful discussion among students about growth, opportunity, and long-term success.

Mr. Pine also explored the history of the American oil industry and how competition, innovation, and organization transformed the economy over time. Students examined what the industry looked like before 1872, when hundreds of small, independent companies operated across every stage of production. At the time, oil extraction was handled by small drilling crews selling crude oil at fluctuating prices. Refining was spread across dozens of small factories in Cleveland, while transportation relied on multiple railroads with inconsistent and often expensive pricing. Oil products were ultimately sold through local stores, leading to uneven quality and availability for consumers.

From there, Mr. Pine discussed the rise of John D. Rockefeller and Standard Oil, tracing how the company reshaped the industry through consolidation and efficiency before eventually becoming the first major monopoly broken up by the U.S. government. He also explored how the World Wars dramatically increased global demand for oil and examined the origins of U.S. relations with the Middle East and Saudi Arabia through the creation of Aramco and the “Golden Gimmick,” a 1950 tax arrangement that allowed American oil companies operating in Saudi Arabia to share profits with the Saudi government while receiving tax credits from the United States.

The conversation also touched on the 1973 Oil Embargo and its lasting impact on energy markets, politics, and the global economy, before connecting those historical developments to present-day discussions surrounding energy, supply, and international relations.

Through these case studies, students discussed the relationship between supply and demand, industrial growth, and the ways systems evolve over time. Mr. Pine’s visit connected historical economic concepts with broader lessons about curiosity, persistence, and continuous improvement.

Jared Pine '21 is a Commercial Analyst at Avis Budget Group, one of the world’s largest vehicle rental companies, where he supports the corporate sales team through data analysis and reporting. He graduated from The Ohio State University’s Fisher College of Business with a degree in Economics and a minor in History. A proud alumnus, he enjoys staying connected to the MBS community whenever possible.