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Oil company personnel have grown a swaggering arrogance believing themselves to be a part of an elite and identifying the power of the company with some kind of privileged existence themselves, they feel a great superiority that the know secrets and truths that others don’t, feeling that they are much more in the deal flow and knowledge than the public could ever know, to some extent that is correct but it is no longer entirely the case. It is no longer the case that Oil company personnel will be kept employed during downturns and continue a privileged life to act, in a voluntary fashion like the Western world’s ambassadors whilst being the exploitation method of the third world, as used to be the case. The current struggle is to dismantle the European and US control of Oil.

      Because of the pressures of modern business to serve the shareholders more, be more ethical environmental and less likely to persecute people, giving more equal rights across race and gender as well as the fact that there are many more threatening factors. not least of which being the vigorous enforcement of the foreign corrupt practises act which is could a swathe through many business practises that were considered normal and reasonable only a few years ago. The spirit of the act is still regularly broken and largely circumvented as the worlds business is routinely conducted in ways not according to the act and applying it vigorously would rule out the West from many trade deals if not all non-western trade deals in that sector. Regularly Individuals are thrown to the dogs because of this or companies incur big fines or both, of course the pressure comes to the employee who must deliver telling the company that they are doing everything by the book both in spirit and the methods that he has been taught and signed off to agree on.

      Of course, one must remember the first priority of any country will be to have Energy and basic needs for the citizens. As many countries can attest, the lack basic power and facilities at homes or to run the infrastructure continuously, is extremely stressful worrying and dangerous. There will always be a privileged place for Energy companies especially multinationals that can chose where and when they serve, importantly, bringing significant investment then know how and then income to any country they work in. Many Oil and Gas fields around the world are much too expensive and difficult for an individual sovereign state to attempt to do themselves. Most of the North Sea Oil and Gas was discovered and developed using American money and know how initially.

      Some of the super major (Oil and Gas) companies, have operating budgets cash flows and even total assets and earnings, greater than governments of individual countries that they trade with. Also to be remembered is that the overall Oil business is a vast business alone and very specialised knowledge is required to be able to understand it in any way. Concentrated involvement for decades worldwide is needed with the right exposure to become even reasonably knowledgeable of how, why, when, and with what, it operates.

      Another little known or understood Part of the Oil business, is that there are companies called service companies, these are the companies that do the manual part of the work and offer services to the Oil company. The Oil company themselves used to do a great deal of the work and own drilling rigs but from the 1940s onward they did less and less of the actual work and owned less and less of the rigs. In the modern day, none of the major Oil companies own a significant amount of drilling rigs or service equipment or personnel, they hire it in various contract modes, depending on the area of work from mostly the major service companies.

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