Who owns Big Oil? The answer might surprise you.

[Mr. H.]

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.

You ever go fishing? You strike me as the type to pluck a dead fish out of the water and proclaim a monumental catch.

You are beyond stick fucking stupid. You're not only a loser but goddamn poser elite.

 

[edthecynic]

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.

Where exactly did I say that pensions were highly concentrated in one stock? Banks also control the media monopoly, etc.

The Rockefeller Family has never given up their control of the US oil monopoly. Anyone who thinks their oil monopoly was shattered with the breakup of Standard Oil is a fool.

 

[Toro]

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.

Where exactly did I say that pensions were highly concentrated in one stock? Banks also control the media monopoly, etc.

The Rockefeller Family has never given up their control of the US oil monopoly. Anyone who thinks their oil monopoly was shattered with the breakup of Standard Oil is a fool.

And again, no and no.

 

[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.

You ever go fishing? You strike me as the type to pluck a dead fish out of the water and proclaim a monumental catch.

You are beyond stick fucking stupid. You're not only a loser but goddamn poser elite.

Wow, looks like I scored.

 

[daveman]

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.

Yeah? So? Buy some oil company stock, and vote to pay the execs nothing.

 

[daveman]

PolitiFact | The Obameter: Create new financial regulations

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

You ever go fishing? You strike me as the type to pluck a dead fish out of the water and proclaim a monumental catch.

You are beyond stick fucking stupid. You're not only a loser but goddamn poser elite.

Wow, looks like I scored.

Own goals don't count.

 

[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.

Yeah? So? Buy some oil company stock, and vote to pay the execs nothing.

Why would anyone do that? It would be stupid.

 

[Toddsterpatriot]

PolitiFact | The Obameter: Create new financial regulations

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

Yeah? So? Buy some oil company stock, and vote to pay the execs nothing.

Why would anyone do that? It would be stupid.

Liberals are all about doing stupid things. Why should you be different?

 

[daveman]

PolitiFact | The Obameter: Create new financial regulations

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

Yeah? So? Buy some oil company stock, and vote to pay the execs nothing.

Why would anyone do that? It would be stupid.

Indeed it would. So why, then, do you classless warriors bitch about CEOs making too much money?

On edit: Oh, yes, because that would require you to un-ass the couch. It's SOOO much easier to demand your politicians limit what people can earn.

 

[percysunshine]

Even liberals love Big Oil!

"Dear Members of the Harvard Community,

Climate change represents one of the world’s most consequential challenges. I very much respect the concern and commitment shown by the many members of our community who are working to confront this problem. I, as well as members of our Corporation Committee on Shareholder Responsibility, have benefited from a number of conversations in recent months with students who advocate divestment from fossil fuel companies. While I share their belief in the importance of addressing climate change, I do not believe, nor do my colleagues on the Corporation, that university divestment from the fossil fuel industry is warranted or wise."

Fossil Fuel Divestment Statement | Harvard University

 

[daveman]

Even liberals love Big Oil!

"Dear Members of the Harvard Community,

Climate change represents one of the world’s most consequential challenges. I very much respect the concern and commitment shown by the many members of our community who are working to confront this problem. I, as well as members of our Corporation Committee on Shareholder Responsibility, have benefited from a number of conversations in recent months with students who advocate divestment from fossil fuel companies. While I share their belief in the importance of addressing climate change, I do not believe, nor do my colleagues on the Corporation, that university divestment from the fossil fuel industry is warranted or wise."

Fossil Fuel Divestment Statement | Harvard University

In other words:

"Shut up and color, kids. You don't run this place."