Politics and World Oil Economics: An Account of the International Oil Industry in Its Political Environment

By J. E. Hartshorn | Go to book overview

CHAPTER XI
Orderly Competition: As Was

I F you ask a chemist to tell you something of the essential nature of petroleum, he is apt to begin drawing a number of diagrams in which a large number of capital Cs and Hs are joined by lines in criss-cross and latticework patterns are varied by hexagonal 'rings', and sometimes by a few Ss. If the interest that you hasten to express betrays a continuing incomprehension, he may show you the same thing done rather more elegantly with a number of white, red and black plastic balls that can be linked together by springs, or segments of which can be fitted together into variegated clusters, also joined together by these flexible steel linkages. These 'solid diagrams' of the petroleum molecule are of almost unending complexity; any given crude oil contains a mixture of many. The connexions are hard to trace through; the segmented clusters join each other and their 'parent' atoms at many points, but remain a mixture rather than a rigidly connected structure. It was a senior executive of one of the seven major international companies who first pointed out to me how closely this organic mixture resembles the interlinked structure of the privately-owned oil industry outside the United States.

Take these seven companies -- or eight with the Compagnie Française des Pétroles -- which own some 90 per cent, as we have seen, of production, refining and marketing in that industry. They control perhaps the most important segment of it, Middle East oil, almost entirely through joint producing companies in which all or some of them are associated. All the major companies, together with a band of smaller American companies, are shareholders in the consortium that manages and operates the Iranian oil industry, though actual ownership is vested in the National Iranian Oil Company. Five are shareholders in the Iraq operating companies; four in Saudi Arabia; two -- with special contracts involving three of the others -- in Kuwait. These are the most important joint operations in producing oil in the Middle East, though

-152-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Politics and World Oil Economics: An Account of the International Oil Industry in Its Political Environment
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 365

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.