Worldwide Oil Business and Oil Companies

Since the second Industrial Revolution when the Diesel Engine was invented, crude oil became THE source of energy used by manhood and the central pillar of modern civilization. And as such, since the early twentieth century, nations have looked forward to secure a basic oil reserve to ensure their development. As a consequence, oil companies, alike their ancestors coal companies, began thriving and taking central stage in modern economies. They were first based on their geographical position as by the time global economy did not exist yet and each nation would rely on itself or its colonies, in the case of certain European powerful countries like France or Great Britain, for crude oil deliveries. This shows why the United States of America had a high rate of development : indeed, the US soil was so rich in natural resources that its sources of raw material (crude oil in the Gulf of Mexico States mainly Texas, iron in The North East etc.) and its industry were nearly stick to one another whereas the European Nations had to fetch their raw materials in their colonies. The role of crude oil became outstanding since the end of World War II and the beginning of the Cold War as since that time absolutely all the modern War Machine’s functioning was exclusively based on crude oil and that is when the US, in their title of standard-bearer of the West and head of The NATO, began a campaign to secure their “Petroleum Security”. This of course was good odd for oil companies whose activities before 1945 were limited to the American territory. Now they could expand their influence far beyond the national borders. Securing oil geographic concessions became the mission they were assigned to by the Government who helped them to fulfil such mission. So the questions one could ask now are : at what extent the influence of oil companies is spread within the Economy, and in the modern frame, in the Global Economy ? Between the sources of crude oil and the gas stations in their homelands, what is the margin of benefit that oil companies put in their “pockets” ; namely, what is their financial weight ? And finally, do oil companies have a role in politics, if yes what is the weight of this role ? Dear readers, you would be surprised as to what you would discover about oil business and the companies controlling it and their influential, if not directive, role in the worldwide financial, economic & less known geo-strategic & political aspects !

Worldwide Oil Business and Oil Companies

At what extent did you knew of oil companies' weight in geopolitics?