Loading...
Loading...
The oil and gas industry is one of the most lucrative in the world, and countless people have become unmentionably wealthy by extracting, refining and selling the fuel source that keeps our civilization in motion. Despite the best efforts of green energy industries and environmentalists, things are not likely to change anytime soon; we continue to rely heavily on the ever-depleting oil and gas reserves in some form or another. In fact, almost all of the most lucrative companies in the world, in terms of revenue, are associated with the oil and gas industry. For the fiscal year ending Dec. 31, 2013, Shell and Exxon had revenues totaling $451 billion and $420 billion respectively. Despite its problems in recent years, British Petroleum continues to see huge profits as well. BP’s revenue was $379 billion for the fiscal year ending Dec. 31, 2013. And it’s not just oil and gas companies in the west and Europe that are raking in obscene amounts of money thanks to bubbling crude. In China, China National Petroleum Corporation and Sinopec made $425 billion and $411 billion revenue, respectively, for the fiscal year ending Dec. 31, 2012. Sageworks released a study that showed, as of 2013, that the most profitable type of business to start would be an oil and gas extraction company. The estimated net profit margin for an oil and gas extraction company is 24.1%.

With the world voraciously consuming fossil fuel it stands to reason that the money will keep flowing as long as the oil does. In the U.S.A. numerous men and women have followed in the steps of Standard Oil founder John D. Rockefeller and built massive empires of wealth thanks to the metaphorical goldmine of the oil and gas sector.

Source:
http://blog.wallstreetsurvivor.com/2017/01/25/10-wealthiest-oil-gas-billionaires-united-states/
https://www.therichest.com/rich-list/nation/10-richest-oil-and-gas-billionaires-in-america/

Music:
1. By the Pool by Jingle Punks
2. Cycles by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Artist: http://audionautix.com/
3. Dirt Road Traveler by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Artist: http://audionautix.com/ 

Comments

Leave a Reply