A Google search of the most recent financial information from the major oil companies shows ExxonMobil alone with a stash of $34 billion. Chevron had cash on hand of $10 billion, Shell of $7.8 billion, BP America of $9.8 billion (at the end of 2007). It sounds like plenty to go around to give the Big Three a helping hand.
Posts Tagged ‘Big Oil’
Consolidation in oil industry likely in 2009
Major oil companies are sitting on enormous piles of cash after posting record profits in recent quarters, while crumbling stock and crude prices have made many smaller oil and gas companies potential targets.
Oil giants talk tax to kill environment
Evidence is mounting of a coordinated global oil industry effort to seize upon the international economic crisis as an opportunity to rebel against ecological controls and bludgeon concessions out of governments.
Big Oil: We told you so
“Exxon got criticized for underinvesting over the last four years,” said Fadel Gheit, a senior energy analyst at Oppenheimer. “It’s not that they were stupid, it’s just that they thought it was too expensive. Now Exxon is going to laugh all the way to the bank.”
More consolidation likely in oil industry
“Big Oil has a growth problem for sure but is extremely well capitalized and we now see an M&A window opening,”
Women to Watch: Linda Cook
The following year was critical for Shell: The company was rocked by scandal when it emerged that it had overstated its energy reserves. There followed a major restructuring, which catapulted Ms. Cook to the top echelons of Shell management.
Big Oil, the big survivor
It was the oil-rich nations operating as their own cartel, the Organization of Petroleum Exporting Countries (OPEC), which ultimately brought down the corporate cartel
Peak Oil: Are Oil Prices Destined to Rise Again?
THE WALL STREET JOURNAL October 31, 2008, 12:13 pm Posted by Keith Johnson Crude oil futures continued down on Friday, spooked by the dim outlook for the U.S. economy. Thats precisely what makes it likely oil prices will rebound next year. A tough run upstream (AP) Big oil companies are already finding it harder to maintain, let alone [...]
Big Oil’s Last Stand
The American public is fed up with Big Oil. In 2006 Gallup published its annual rating of public perceptions of U.S. industry. The oil industry is always a poor performer, but this time it came in dead last earning the lowest rating for any industry in the history of the poll.
Africa’s Potential to Sate World’s Oil Demand Dims
For big state-owned and private oil companies, Africa has played an outsized role. It is responsible for adding nearly a quarter of the globe’s total increase in reserves over the past decade. That has been a boon for companies such as Royal Dutch Shell PLC, Exxon MobilCorp. and Total SA, all of which have struggled to replace reserves on their books
Palin’s Big Oil infatuation
Palin’s Big Oil infatuation. She is as much a product of the oil industry as the current president and his vice president. By Robert F. Kennedy Jr. September 24, 2008 I was water-skiing with my children in a light drizzle off Hyannis, Mass., last month when a sudden, fierce storm plunged us into a melee [...]
Sarah Palin taxes put pipelines in jeopardy, say oil giants
In Alaska I broke the lobbyist and special interests that had controlled big oil. We are going to make this nation energy-independent.
BP’s troubles in Russia show Big Oil’s clout fading
Gone are the days when BP manhandled reserves out of foreign countries, as it did in Iran the early years of the last century. Once the lion of British enterprise, Russia has brushed it aside like a kitten.
America, Over Big Oil’s Barrel
To repel public hostility and government action, meanwhile, the American Petroleum Institute, the main oil and gas lobbying group, has launched a multimillion dollar media blitz.
Big Oil’s facts answer the attacks
We’ve all heard about the alleged sins of Big Oil, the handy media-made pejorative for the world’s largest oil and gasoline manufacturers: It controls/manipulates the world energy market. Its six “supermajors” — multinationals like ExxonMobil, Royal Dutch Shell, BP, Chevron — are exceptionally evil and rapacious corporations that are responsible for skyrocketing oil and gasoline prices. They are uniquely and grossly profitable. They deserve to have their “excess” profits taxed and their robber-baron bosses scolded – if not publicly waterboarded — by Congress.
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