The term supermajor illustrates the six largest energy companies, as seen in popular financial mediums around the world. Trading under various names around the world, they are considered to be: ^[1]

• ExxonMobil (XOM)
• BP (BP)
• Royal Dutch Shell (RDS)
• Total S.A. (TOT)
• Chevron Corporation (CVX)
• ConocoPhillips (COP)

The supermajors began to appear in the late 1990's as large petroleum companies began to merge, often in an effort to improve economies of scale, hedge against oil price volatility, and reduce large cash reserves through reinvestment.^[2] Exxon and Mobil (1999), BP and Amoco (1998), Total and Petrofina (1999) and subsequently Elf Aquitaine (2000), Chevron and Texaco (2001), and Conoco Inc. and Phillips Petroleum Company (2002) all merged between 1998 and 2002. The result of this trend created some of the largest global corporations as defined by the Forbes Global 2000 ranking, and as of 2007 all within the top 25. For other uses, see Exon (disambiguation). ... This article is about the energy corporation. ... Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. ... Total S.A. (Euronext: FP, NYSE: TOT) is a French oil company headquartered in Paris, France. ... Chevron Corporation (NYSE: CVX) is one of the worlds largest global energy companies. ... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas. ... Events and trends Technology Explosive growth of the Internet; decrease in the cost of computers and other technology Reduction in size and cost of mobile phones leads to a massive surge in their popularity Year 2000 problem (commonly known as Y2K) Microsoft Windows operating system becomes virtually ubiquitous on IBM... This article is about the fuel brand. ... Mobil gas station in the Loisaida section of the East Village of New York City Mobil was a major American oil company which merged with Exxon in 1999 to form ExxonMobil. ... The American Oil Company, or Amoco, was a global chemical and oil company, founded in Baltimore in 1910 and incorporated in 1922 by Louis Blaustein and his son Jacob, but now part of BP. The firms early innovations include the gasoline tanker truck and the drive-through filling station. ... Petrofina was a Belgian oil company merged with Total to form Total Fina. ... Elf logo Elf Aquitaine is a former French oil company merged with TotalFina to form TotalFinaElf. ... Texaco is the name of an American oil retail brand with a strong global presence. ... Conoco Inc. ... ConocoPhillips (NYSE: COP) was founded by the merger of the Conoco Inc. ... The Forbes Global 2000 - is an annual ranking of the top 2000 corporations in the world by Forbes magazine. ...

As of December 1, 2006, ExxonMobil ranks first in size (market capitalization), cash flow (12 months), revenue (12 months), and profits. ^{[3] [4]} is the 335th day of the year (336th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Big Oil

Supermajors are sometimes collectively referred to as Big Oil, a pejorative term used to describe the individual and collective economic power of the largest oil and gasoline manufacturers, and their perceived influence on politics, particularly in the United States. Big Oil is often associated with the Energy Lobby. It has been suggested that this article or section be merged with pejoration. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... Petrol redirects here. ... Energy Lobby is the umbrella term used to name the paid representatives of large oil, gas, coal, and electric utilities corporations who attempt to influence governmental policy. ...

Usually used to represent the industry as a whole in a pejorative or derogatory manner, "Big Oil" has come to encompass the enormous impact crude oil exerts over first-world industrial society. Additionally, "Big Oil" is also utilized to discuss the consumer relationship with oil production and petroleum use, as consumers in the United States and Europe tend to respond to petroleum price spikes by purchasing vehicles with greater fuel efficiency during these periods. Historically, consumer interest in fuel efficiency and the oil debate wanes significantly as pump prices stabilize. Fuel efficiency, in its basic sense, is the same as thermal efficiency, meaning the efficiency of a process that converts energy contained in a carrier fuel into energy or work. ...

Controversy

Main article: Oil price increases of 2004-2007

Since 2005, the term Big Oil has been used regularly in the media as the United States pump price for regular unleaded gasoline passed $2.00 U.S., then $3.00 U.S. in early autumn. The critical increase in fuel cost has been attributed to the effects of Hurricane Katrina and Hurricane Rita, in addition to the increasing costs of crude oil on world markets resulting from the uncertain status of supply, political instability in the Niger River Delta, and the ongoing Iraq War. The phase-out of MTBE for ethanol is another factor during 2006 - some parts of the U.S. were selling regular unleaded for $3.27/gallon - especially in West Coast states. Crude oil prices, 2005-2007 (not adjusted for inflation) U.S. Retail Gasoline prices, 2005-2007 (not adjusted for inflation) Oil prices from 1861-2006 in dollars of the day (black) and 2006 dollars (orange). ... This article is about the Atlantic hurricane of 2005. ... Lowest pressure 895 mbar (hPa)[1] Damages $10 billion (2005 USD)[1] Fatalities 7 direct, 113 indirect Areas affected Bahamas, Florida, Cuba, Yucatán Peninsula, Louisiana, Texas, Mississippi, Arkansas Part of the 2005 Atlantic hurricane season Hurricane Rita is the fourth-most intense Atlantic hurricane ever recorded and the most... For other uses, see Iraq war (disambiguation). ... MTBE is highly flammable and is widely used as an oxygenate. ... Grain alcohol redirects here. ...

A current issue is whether the petroleum industry has engaged in profiteering during a time of catastrophic weather events and political unrest. The oil industry has responded by outlining their extensive costs, market uncertainties and public education efforts with regard to industry background, supply and demand, and how the system of commodity futures affects pricing. Industry supporters and many fiscal conservatives have supported the industry as an example of free market economics. Industry detractors have focused on specific profit reports and attempted to outline allegations that the oil industry has utilized unrest to achieve unjust enrichment. There are very few or no other articles that link to this one. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ...

The Republican Party of United States is often criticized for giving tax breaks to Big Oil [1][2][3]. By some accounts, past support of Big Oil was one reason many Republican members of the United States Congress were defeated in the 2006 election [4][5]. The Republican Party is one of two major contemporary political parties in the United States of America, along with the Democratic Party. ... A tax exemption is an exemption to the tax law of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead forgone. ... Type Bicameral Houses Senate House of Representatives President of the Senate President pro tempore Dick Cheney, (R) since January 20, 2001 Robert C. Byrd, (D) since January 4, 2007 Speaker of the House Nancy Pelosi, (D) since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political... The United States midterm elections of 2006 will be held on Tuesday, November 7, 2006. ...

See also

• Price gouging
• Cartel
• Fossil fuel
• Monopoly
• Petroleum
• Seven Sisters (oil companies)

Price gouging is a term of variable, but nearly always pejorative, meaning, referring to a sellers asking a price that is much higher than what is seen as fair under the circumstances. ... For the American pop-punk band, see Cartel (band). ... Fossil fuels or mineral fuels are hydrocarbons found within the top layer of the earth’s crust. ... This article is about the economic term. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... This article or section does not cite its references or sources. ...

References

1. ^ "ConocoPhillips: The Making Of An Oil Major", Business Week, December 12, 2005. Retrieved on 2006-09-29. 
2. ^ "Slick Deal?", NewsHour with Jim Lehrer, 1998-12-01. Retrieved on 2007-08-20. 
3. ^ Reuters, December 2, 2006.
4. ^ Forbes Global 2000, 2006

is the 346th day of the year (347th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 272nd day of the year (273rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 232nd day of the year (233rd in leap years) in the Gregorian calendar. ... is the 336th day of the year (337th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

External links

• Crude Awakening (NOW)
• Big Oil's bigtime looting (editorial from the Boston Globe)
• Big Oil bears brunt over gas prices (Reuters)
• Big Oil bosses prepare to face Congress (CNN)