About the following list of the top ten oil companies in the world, ask two questions:
How many are government-owned and how many privately owned? and Of the privately owned, how many are highly regulated and how many operate in free markets?
1 Saudi Aramco 478.00 (evenue in year 2015)
2 Sinopec 455.499
3 China National Petroleum Corporation 428.62
4 PetroChina 367.982
5 Exxon Mobil 268.9
6 Royal Dutch Shell 265
7 Kuwait Petroleum Corporation 251.94
8 BP 222.8
9 Total SA 212
10 Lukoil 144.17
Note that the four largest by far are state-owned. Then, after the fourth and a drop of about $100 billion in revenue, comes Exxon Mobil corporation, the largest privately owned corporation.
On the issue of regulation, now how US energy companies operate within an increasing regulated environment, and have for decades.
The data raise lots of questions, but on my mind now — given a recent conversation at a conference — is this:
What explains the cognitive disconnect in those who say both Governments ought to run stuff! and Oil companies are evil!? In the energy world, governments are by far the largest operators.
It’s not that hard to understand. Consider: most of those protesting the existence of oil companies are unwilling to give up their cars, or their electricity. Also, note that those who engaged in recent protests recoil at the thought of actually doing something to fix the situation. I’ve asked why protestors don’t form a charity, have everyone donate $10, and use the money to fund the programs the government is considering doing away with, and the response was the absolute most ugly and horrible thing I’ve seen on the internet.
The issue isn’t the facts of the situation. It’s virtue signaling. Protesting oil companies tells everyone that you believe the Right Things, and that you are a Good Person!! Demanding that the government control everything does the same. And since these people are all second-handed, that’s all that matters. It’s not that you DID good, but that you BELIEVED good–with the smiling face at the political podium and screaming lunatic on the news channels telling you what “good” is.
As long as people are more concerned with LOOKING LIKE they’re doing good than they are with DOING good, this will continue.
Trashing oil is part of the United Nation’s “Global Warming”/”Climate Change” agenda. Oil has to be trashed to get humanity to embrace “Carbon Credits” which are are to be a new form of currency which do not allow for the accumulation of wealth. Just as Marx and the Marxists disallow inheritance, the coming system will also disallow inheritance but in a much more draconian form. For details I recommend the website freedom advocates dot org.