Private Empire: ExxonMobil and American Power by Steve CollIn Private Empire Steve Coll investigates the largest and most powerful private corporation in the United States, revealing the true extent of its power. ExxonMobil’s annual revenues are larger than the economic activity in the great majority of countries. In many of the countries where it conducts business, ExxonMobil’s sway over politics and security is greater than that of the United States embassy. In Washington, ExxonMobil spends more money lobbying Congress and the White House than almost any other corporation. Yet despite its outsized influence, it is a black box.
Private Empire pulls back the curtain, tracking the corporation’s recent history and its central role on the world stage, beginning with the Exxon Valdez accident in 1989 and leading to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The action spans the globe, moving from Moscow, to impoverished African capitals, Indonesia, and elsewhere in heart-stopping scenes that feature kidnapping cases, civil wars, and high-stakes struggles at the Kremlin. At home, Coll goes inside ExxonMobil’s K Street office and corporation headquarters in Irving, Texas, where top executives in the “God Pod” (as employees call it) oversee an extraordinary corporate culture of discipline and secrecy.
The narrative is driven by larger than life characters, including corporate legend Lee “Iron Ass” Raymond, ExxonMobil’s chief executive until 2005. A close friend of Dick Cheney’s, Raymond was both the most successful and effective oil executive of his era and an unabashed skeptic about climate change and government regulation.. This position proved difficult to maintain in the face of new science and political change and Raymond’s successor, current ExxonMobil chief executive Rex Tillerson, broke with Raymond’s programs in an effort to reset ExxonMobil’s public image. The larger cast includes countless world leaders, plutocrats, dictators, guerrillas, and corporate scientists who are part of ExxonMobil’s colossal story.
The first hard-hitting examination of ExxonMobil, Private Empire is the masterful result of Coll’s indefatigable reporting. He draws here on more than four hundred interviews; field reporting from the halls of Congress to the oil-laden swamps of the Niger Delta; more than one thousand pages of previously classified U.S. documents obtained under the Freedom of Information Act; heretofore unexamined court records; and many other sources. A penetrating, newsbreaking study, Private Empire is a defining portrait of ExxonMobil and the place of Big Oil in American politics and foreign policy.
Winner of the Financial Times and Goldman Sachs Business Book of the Year Award 2012
How Big Is Exxon Mobil - They Have 6.3 Million Barrels Oil Production Per Day
Exxon Mobil Corporation , doing business as ExxonMobil , is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. One of the world's largest companies by revenue , ExxonMobil from to varied from the first to sixth largest publicly traded company by market capitalization.
Amazon, ExxonMobil Among Corporations Called Out Over Climate Transparency
Exxon, the largest U. The Trump administration has been ratcheting up pressure on Venezuela and Cuba. Previous presidents had waived the provision of the act that allows anyone whose property was nationalized after the Cuban Revolution to sue any individual or company profiting from their former holdings. On Thursday two Cuban-Americans sued cruise operator Carnival Corp for using Cuban ports nationalized from the family members who owned them. District Court for the District of Columbia.
The agreement worth billions of dollars with the southern Guangdong provincial government includes a 1. No details about the capacity of the project or timeline were given. China is allowing greater access by global majors and local independents to its massive chemicals market to feed plastics, coatings and adhesives to the fast-growing consumer electronics and automotive sectors. The project includes a steam cracker producing 1 million tonnes a year of ethylene. The preliminary deal was signed with the local governments of Guangdong province and Huizhou as well as state power company, Guangdong Yuedian Group, according to the Guangzhou Daily. An investment in the import facility and downstream gas marketing will help it boost sales and margins compared with just selling the fuel at the import terminal gate, Kavonic added.
The three largest individual shareholders of Exxon Mobil stock are all current or former executives in the company. After holding several positions in New Jersey, Dolan was transferred to Mobil Australia to become the company's technical manager of refining operations. He later worked as executive vice president of Exxon Mobil Saudi Arabia, and vice president of Exxon Mobil, prior to assuming the position of senior vice president. Dolan is the largest individual shareholder of Exxon Mobil stock according to a February 6, , filing with the SEC. The former senior vice president owns about 1. Swinger joined Exxon Mobil in as an engineer in Louisiana. Tillerson has a long and distinguished history at Exxon Mobil, holding positions at various levels and locations within the company.
The asset manager monitors companies across six major sectors: oil and gas; mining; electric utilities; carmakers; food retailers; and finance. LGIM expects all companies to disclose their exposure to the climate crisis and set targets for reducing the carbon-intensity of their operations as part of its climate impact pledge. The money manager said US companies have proved the most challenging to engage with on climate concerns. LGIM said the nation is divided between companies firmly committed to tackling climate issues, and a disproportionate number of companies among the lowest-scoring of its report. Donald Trump has vowed to pull out of the Paris climate agreement, in contrast to many US states and cities which are making strides in holding fossil fuel companies to account for the climate crisis. Overall, LGIM believes there is less willingness among US companies to make even incremental changes because they are not under the same pressure to take climate action because it is not expected by US investors. Meanwhile, LGIM praised US oil company Occidental Petroleum which was reinstated as an investment candidate after landing on the laggard list last year.