Cowboys and Afghan sheiks.
As the publics frustration grew over rising pump prices and dependence on oil imports that transferred billions of dollars to hostile regimes overseas, Exxon became a natural lightning rod.
Resentful nationalism and suspicion of the United States and Europe persisted in many capitals of the new oil powers.We see governments come and go, Lee Raymond once remarked, an observation that was particularly true of Washington, with its constitutionally term-limited presidency.It fenced off local operations and separated its workforce from upheaval outside its gates.He did not manage the corporation as a subordinate instrument of American foreign policy; his was a private empire.Private Empire and how his original idea for the book was to tell a broader story about the oil industry in the style of Daniel Yergins.Overseas, a projects host country might pass through multiple coups and political upheavals during the same four decades.Private Empire is not so much an indictment as a fascinating look into American business and politics.Exxons size and the nature of its business model meant that it functioned as a corporate state within the American state.
The United States now stood unchallenged as a worldwide military power.Small wonder that after the Valdez, a company representative quietly called a University of Wisconsin professor to offer money if he would write an article for a respectable academic journal, arguing against punitive damages.The Berlin Wall fell a few months later, in November.In the war-racked Niger Delta, it gave boats to the Nigerian Navy, deployed its own vessels at sea to scout for pirates and recruited, paid, supplied and managed sections of the Nigerian military and police.If its oil fl owed and its contract terms remained intact, then Exxon often followed a directive of minimal interference in local politics, especially if those politics were controversial, as in the case of the African dictatorships with which the corporation partnered, or the countries.A pdf powerpoint converter cnet few days before the Exxon Valdez ran onto Bligh Reef, tens of thousands of Hungarians marched through Budapest.Private empire, exxonMobil and American Power, by Steve Coll 685.
State-owned petroleum companies from China, India, Brazil, and elsewhere were rising quickly as competitors.