Who Owns ‘Big Oil'? If we own a mutual fund, the answer is, we all own big oil? and big pharm, big insurance, big business and medium and small business too. It's great to be an American, a capitalist and an investor.
Even more interesting, it is the Federal Government who owns most of the oil in this country.
This article misses the elephant in the room.
National Oil Companies (NOC) accounted for 52% global oil production and controlled 88% of proven oil reserves as of 2007. A NOC is an oil company where the majority ownership is held by a national government, such as Petrobras, Aramco, or Gazprom.
International Oil Companies (IOC) such as ExxonMobil, ChevronTexaco, or BP are in the minority and on the decline in terms of power and influence, including outside their national borders.
And I think we all know which truly does not have US interests at heart.
Remember the days when the feds broke up Standard oil for being so greedy and evil?.
Who Owns ‘Big Oil'? If we own a mutual fund, the answer is, we all own big oil? and big pharm, big insurance, big business and medium and small business too. It's great to be an American, a capitalist and an investor.