Conclusion: Out of the world's wealthiest 500 companies 15.9% of wealth belonged to Oil & Gas at the end of 2010.
But allow me to add a little more detail. Oil & Gas -- by far the wealthiest sector per capita (per company) on the entire list, placed five companies in the world's wealthiest private companies TOP 10 LIST: #1. ExxonMobil (USA), #2. PetroChina, #5. PetroBras (Brazil), #8. Royal Dutch Shell (Netherlands), #9. Chevon (USA). (Special note to BOR readers -- Exxon headquartered in Irving.) For this particular year, the Oil & Gas sector earned $7.234 Billion on average per company. Compare that to the average per company earnings in other wealthiest sectors: "Software & Hardware" earned an average of $4.883 Billion per company, "Banks" sector $4.577 B per company, "Mining" $4.489 B per company.
Going one further -- the 2006 Financial Times list of valuations for government-owned companies shows Saudi Aramco to be worth more than twice as much as ExxonMobil in 2010. More impressively, 9 of the world's top 10 wealthiest "non-public" companies are Oil & Gas producers, too. These 9 non-public companies show a combined market valuation of nearly $3 Trillion. That's +7 Trillion, speaking loosely, for Oil & Gas producers globally... Global GDP at the end of 2010 was around $63 Trillion, making global oil & gas companies worth something like 11% of global GDP.
Back to the point -- It's interesting to note that America's Oil & Gas companies, leading the private sector in both profits and overall wealth, complain they cannot afford to pay for the pollution their products and services generate and need government assistance just to continue operating http://chrissearles.blogspot.c...
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Broader analysis on all this soon, plus copies of my data/spreadsheets.
Footnotes and full version of this via my blog: http://chrissearles.blogspot.c...
Please stay tuned, thanks.
