Those companies are still there, they just aren't here. They've moved to places where the climate to do business is actually friendly, They aren't likely to spend the kind of money to go after these shale resources because of the uncertainty being fostered by the Obamalamadingdong Administration. The drilling ban in the Gulf was the last straw for many.
Everybody be sure to wave bye-bye as the rigs pull out, heading for Brazil and the west coast of Africa......'cause they ain't coming back anytime soon.....
Yes, that’s part of it. But also, Exxon used to be the biggest oil company in the world, and the Seven Sisters were the 7 biggest and most influential.
Now, they are midgets compared to the Russian and Chinese national oil companies, or even Petrobras.