Who owns Big Oil? The answer might surprise you.

[edthecynic]

Who owns Big Oil? The answer might surprise you.

In a 2011 update on a study of oil and natural gas company ownership, the Sonecon consulting firm found that nearly 50 percent of all corporate shares are held by public and private pension and retirement funds, including 401(k)s, and IRAs. Individual investors own 20 percent, while financial institutions and asset management companies own 27 percent. That's 97 percent. Less than 3 percent is owned by corporate executives and board members.

A closer look at the data reveals even more surprises about oil company ownership:

Nearly 21 percent of oil and natural gas shares are in mutual funds, held by 52.3 million American households with a median annual income of $80,000 in 2011.
Nearly 18 percent of industry shares are held through IRAs, with 48.6 million households owning one or more IRAs. Of those IRA holders, 80 percent had annual incomes of $70,000 or less in 2010.

More than 31 percent of industry shares are owned by public or private pension plans, including 401(k)s (not including IRAs). The funds manage assets for more than 60 million households, with an average account value of less than $55,000. You can learn more about oil and natural gas earnings and pensions here.
​

Hmmmmm...

This is a perfect example of how the Right constructs a lie that seems like a truth backed by "statistics." They simply use the most misleading stats they can find.

The first deception is who "OWNS" the oil monopoly's stock is meaningless. What matters is who VOTES the proxies!!!!! Who VOTES the stock CONTROLS the oil monopoly. The people who "OWN" the pensions and retirement funds do NOT vote the stock!!!!!!!

For example, after the Standard Oil monopoly was "broken up" Rockefeller only "OWNED" 25% of the stock. Some stockholders tried to oust Rockefeller form the Board. But Rockefeller VOTED 60% of the proxies!!!

"Competition is a sin" "Own nothing. Control everything"
John D Rockefeller

And nobody owes you shit.

Ahhhhh, the bliss of perpetual stupidity.

 

[edthecynic]

I thought the article was interesting, so I posted it.

I knew that there were more than just Eeeevil Rich People who owned oil stock. I just didn't know how much more.

A bunch of little guys are invested in oil stocks, even through mutual funds and pension funds. But a couple million of us owning shares is not concentrated wealth and that's where the power comes from. The power to buy t.v. ads and put politicians they like in office or get rid of politicians. The Kochs are good at this and have been influencing politics for decades. They created the tea party. This is what concentrated wealth will do.

They didn't create the TEA Party. Fed-up individuals created the TEA Party.

The left is lying to you.

Ahhhhhh, the bliss of perpetual stupidity.

 

[Mr. H.]

A bunch of little guys are invested in oil stocks, even through mutual funds and pension funds. But a couple million of us owning shares is not concentrated wealth and that's where the power comes from. The power to buy t.v. ads and put politicians they like in office or get rid of politicians. The Kochs are good at this and have been influencing politics for decades. They created the tea party. This is what concentrated wealth will do.

They didn't create the TEA Party. Fed-up individuals created the TEA Party.

The left is lying to you.

Ahhhhhh, the bliss of perpetual stupidity.

Without looking it up, do you even recall what the acronym TEA represents?

 

[daveman]

This is a perfect example of how the Right constructs a lie that seems like a truth backed by "statistics." They simply use the most misleading stats they can find.

The first deception is who "OWNS" the oil monopoly's stock is meaningless. What matters is who VOTES the proxies!!!!! Who VOTES the stock CONTROLS the oil monopoly. The people who "OWN" the pensions and retirement funds do NOT vote the stock!!!!!!!

For example, after the Standard Oil monopoly was "broken up" Rockefeller only "OWNED" 25% of the stock. Some stockholders tried to oust Rockefeller form the Board. But Rockefeller VOTED 60% of the proxies!!!

"Competition is a sin" "Own nothing. Control everything"
John D Rockefeller

And nobody owes you shit.

Ahhhhh, the bliss of perpetual stupidity.

So, you believe they DO owe you something.

What, and why?

This should be amusing.

 

[daveman]

A bunch of little guys are invested in oil stocks, even through mutual funds and pension funds. But a couple million of us owning shares is not concentrated wealth and that's where the power comes from. The power to buy t.v. ads and put politicians they like in office or get rid of politicians. The Kochs are good at this and have been influencing politics for decades. They created the tea party. This is what concentrated wealth will do.

They didn't create the TEA Party. Fed-up individuals created the TEA Party.

The left is lying to you.

Ahhhhhh, the bliss of perpetual stupidity.

That's what we like about you, ed. Your child-like innocence.

 

[edthecynic]

And nobody owes you shit.

Ahhhhh, the bliss of perpetual stupidity.

So, you believe they DO owe you something.

What, and why?

This should be amusing.

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

 

[daveman]

Ahhhhh, the bliss of perpetual stupidity.

So, you believe they DO owe you something.

What, and why?

This should be amusing.

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

So, get off your ass and buy a bank.

Sheesh, what a whiner.

 

[Toro]

I've got money in oil stock, it surely can't be an insignificant portion of an S&P 500 index fund.

About 10%. Maybe a little less.

 

[Toro]

Ahhhhh, the bliss of perpetual stupidity.

So, you believe they DO owe you something.

What, and why?

This should be amusing.

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

Ed, you're being silly.

 

[edthecynic]

So, you believe they DO owe you something.

What, and why?

This should be amusing.

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

So, get off your ass and buy a bank.

Sheesh, what a whiner.

You are the one whining and desperately trying to change the subject because your OP shows just how gullible you are.

Again, who "owns" the oil monopoly is meaningless, who CONTROLS it is everything.

You can wallow in your ignorance all you want, but CONTROL trumps ownership.

"Own nothing. Control everything"
John D Rockefeller

 

[edthecynic]

So, you believe they DO owe you something.

What, and why?

This should be amusing.

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

Ed, you're being silly.

Toro, you are being naive.

 

[Toro]

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

Ed, you're being silly.

Toro, you are being naive.

I'm surprised Ed. I would expect that coming from 9/11 inside nutjob, not from you.

First, oil is a fungible, global commodity. No one person or family controls it. Not even OPEC.

Second, my organization is actively involved at the board level of the banks and oil companies. We vote on proxies. We know who owns what. No one person owns or controls the oil business in the United States. It's not an oligopoly. There are hundreds of large to medium-sized companies in the US involved in exploration and production, gathering and processing, transportation, refining and distributing hydrocarbons in this country.

Third, corporate pensions by law cannot be highly concentrated in single stocks as set out in the 1974 ERISA Act. And they aren't.

 

[Toddsterpatriot]

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

So, get off your ass and buy a bank.

Sheesh, what a whiner.

You are the one whining and desperately trying to change the subject because your OP shows just how gullible you are.

Again, who "owns" the oil monopoly is meaningless, who CONTROLS it is everything.

You can wallow in your ignorance all you want, but CONTROL trumps ownership.

"Own nothing. Control everything"
John D Rockefeller

Again, who "owns" the oil monopoly is meaningless, who CONTROLS it is everything.

Do the "controllers" get more than their fair share of dividends? Because the owners of Exxon Mobil got $8.8 billion in 2010, $9.3 billion in 2011 and $10.4 billion in 2012.
In addition to stock buybacks of $12.1 billion, $21.1 billion and $20.6 billion.

 

[Luddly Neddite]

Big mystery to the left. The private sector is owned by the private sector.

And yet, you go all hysterical anytime a leftie says the same thing.

Its the rw's who are confused about oil. If you don't believe it, ask one about the Keystone Pipeline, how many new well permits President Obama has has approved since being elected or what country exports the most oil.

I can guarantee you, they don't know but will cheerfully tell you whatever Limbaugh has told them to say.

And, before you toss off another of your brainless insults, if you have access to the interwebs, you might want to look it up.

Or not.

 

[Mr. H.]

Big mystery to the left. The private sector is owned by the private sector.

And yet, you go all hysterical anytime a leftie says the same thing.

Its the rw's who are confused about oil. If you don't believe it, ask one about the Keystone Pipeline, how many new well permits President Obama has has approved since being elected or what country exports the most oil.

I can guarantee you, they don't know but will cheerfully tell you whatever Limbaugh has told them to say.

And, before you toss off another of your brainless insults, if you have access to the interwebs, you might want to look it up.

Or not.

Limbaugh?
I get my industry news from magazines and trade journals.

World Oil, Oil and Gas Journal, E&P Magazine, American Oil and Gas Reporter, etc.

After 36 years in the industry, who need Rush?

 

[Mr. H.]

Lovely Nuts is such a poser.

 

[daveman]

My post exposed you to the subtle difference between "ownership" and "control." It obviously went over your head.

What is important is not who "owns" the oil monopoly, but who "CONTROLS" the oil monopoly. The Rockefeller Family has never given up their CONTROL of the oil monopoly. All John D did was switch CONTROL from the Standard Oil holding company to the banks he controlled. The banks use the pension and retirement funds deposited with them to buy the oil stock. The bank does not own the stock, the people who invested in their retirement funds do, but the people do not vote the proxies, the bank does. Banks are thus immune to the antitrust laws.

So, get off your ass and buy a bank.

Sheesh, what a whiner.

You are the one whining and desperately trying to change the subject because your OP shows just how gullible you are.

Again, who "owns" the oil monopoly is meaningless, who CONTROLS it is everything.

You can wallow in your ignorance all you want, but CONTROL trumps ownership.

"Own nothing. Control everything"
John D Rockefeller

Look, Cupcake, it's not me complaining that I don't control anything.

That would be you.

 

[Mr. H.]

Anyone curious about the oil business is welcome to join in. We are hiring, after all.

Trouble is, no one has the ball sack.

Grow some, then come get some.

 

[rdean]

Who owns Big Oil? The answer might surprise you.

In a 2011 update on a study of oil and natural gas company ownership, the Sonecon consulting firm found that nearly 50 percent of all corporate shares are held by public and private pension and retirement funds, including 401(k)s, and IRAs. Individual investors own 20 percent, while financial institutions and asset management companies own 27 percent. That's 97 percent. Less than 3 percent is owned by corporate executives and board members.

A closer look at the data reveals even more surprises about oil company ownership:

Nearly 21 percent of oil and natural gas shares are in mutual funds, held by 52.3 million American households with a median annual income of $80,000 in 2011.
Nearly 18 percent of industry shares are held through IRAs, with 48.6 million households owning one or more IRAs. Of those IRA holders, 80 percent had annual incomes of $70,000 or less in 2010.

More than 31 percent of industry shares are owned by public or private pension plans, including 401(k)s (not including IRAs). The funds manage assets for more than 60 million households, with an average account value of less than $55,000. You can learn more about oil and natural gas earnings and pensions here.
​

Hmmmmm...

PolitiFact | The Obameter: Create new financial regulations

Obama signed financial reform law allowing shareholders of publicly traded companies to vote on executive pay.

 

[Mr. H.]

I'll never forget the time I was humping in the field. Two years learning ropes.

I crawled myself inside a 210, busting out concrete bottoms with an aluminum shovel.

Another guy asked me why I took on this shit-forsaken job.

To which I replied "I own the company".

His eyes got big as pancakes. Nothing more said. We just went about business.