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Guest Post: A Look At The Richest Oil Barons In The U.S.
Submitted by Charles Kennedy of OilPrice.com,
Forbes has recently released its latest rich list, so now would be a good time to look at the world’s billionaires who have benefited most from the US oil industry.
The Koch Brothers, Charles and David, are the joint 6th richest people in the world with fortunes of $34 billion each. Their fortune has been created from massive refineries, pipeline networks, and chemical plants, all of which have been boosted by the US shale boom.
Harold Hamm, the CEO and founder of Continental Resources, is the 90th richest person in the world with his 73% stake in Continental worth $11.3 billion. He was there at the beginning of the Bakken shale formation, and helped to develop it into the monster that it is today. In 2006 the Bakken was producing 100,000 barrels per day, and now it produces 550,000 barrels per day; Hamm and his analysts believe that it has the potential to reach 1 million bpd.
Then there are Phil Anschutz and George Kaiser, both with fortunes of $10 billion, and tied on the Forbes list at 109th.
Anschutz has built empires in oil, railroads, and telecoms, with his biggest to date being in the world of entertainment with his company Anschutz Entertainment Group (AEG).
Kaiser’s family fled Nazi Germany, before settling in the US and founding the Kaiser-Francis Oil Company; George took control in the late 60s.
Next is Richard Kinder, the co-founder of Kinder Morgan the pipeline giant. His $9.8 billion fortune puts him in 112th place on the list. Kinder Morgan controls 75,000 miles of pipeline and 180 storage terminals which can transport 2.5 million barrels of oil and 55 billion cubic feet of gas every day.
Ray Lee Hunt inherited a fortune from his father H.L. Hunt, and has developed it into a $5.6 billion sum with investments in Peruvian and Yemeni LNG Project, a refinery in Alabama, and a big oil find in Iraq’s Kurdistan last year through his company Hunt Oil. His wealth makes him the 214th richest in the world.
Jeffrey Hildebrand’s $5.5 billion fortune ranks him at 219th on Forbes list.he sold his stake in the Eagle Ford shale play to Marathon Oil for $1.4 billion in 2011, and then reinvested in fields in the Cook Inlet, Alaska. He also has large interests in the Utica play in Ohio, and last year sold most of his Gulf of Mexico assets for $550 million.
For a more comprehensive list go to: http://www.forbes.com/sites/christopherhelman/2013/03/04/americas-oil-and-gas-billionaires/
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Time for the Hunt family to re-enter the silver market...
#IStandWithRand
9 of the top 10 tax paying zip codes are in and around New York City. The one and only one that is not, is in Houston.
Yes ilene, let's by all means, piss on the people producing oil, instead of the blood sucking, rat shit New Yawk Jews running the show.
Why does ZH need a dyke commie editor for a financial blog?
Inquiring minds want to know,
Thanks ilene, for your gracious, articulate, and prompt lefty response. Tee Hee.
Rand Paul is speaking
does the rest of this shit matter?
http://www.c-span.org/Live-Video/C-SPAN2/
Hell yes it matters. Oblubber looks like the Dictator idiot that he is over the sequester. He lost, big time.
People can curse you all day, every day. It matters not, but when they start to laugh at your sorry ass...,it's over.
ilene has three gay friends. Who knew?
It is petro dollar world
control food. Control people
control oil. Control commerce
Control currency. Control world
speaking of billionaires http://www.forbes.com/profile/tory-burch/
what a hottie. man...where did i go wrong in life.
You didn't sell overpriced crap to Trophy Twats? Me neither. So much for a college education.
Seriously though, some fool wins a lottery several times a week. Does that make it a good investment?
In a petro dollar world, continue to try to control by threatening the use of atomic weapons, and then discover that chemical energy was practically nothing by comparison, and therefore, watch everything go astronomically out of control, by many orders of magnitude more than was imagined by those who continued to believe that they could control the world through the same old-fashioned Neolithic pyramid systems, that evolved on the basis of chemical energy, like they did through petro dollars.
what fucking difference does it make? they don't produce anything-they just leverage up enough and pay off the right people to amass their fortunes while crushing wages-99.9% of people are left to fight over few scraps
Where is Dick Chaney and GW?
That was just a mindless conspriracy theory played out by the Democrats who wanted to be in bed with the too-big-to-jail banksters.
They're in the politics business, not the ole bidness and, like the Rothschilds, prefer that their richness not be public. Many people in the politics business get much of their wealth from aiding those in the oil business as they steal resources from their rightful owners. They often use the taxpayer supported military to do that. The taxpayer normally doesn't get reimbursed.
I don't see Putin on the list.
I hear through various russians he's one of the richest people in the world. Much richer than Carlso Slim, Bill Gates, Bathtub Warren, etc.
Hugo Chavez was/is worth 2 billion.
According to whom? I saw the link on Drudge but the only source cited was a consulting firm.
You said it.
All honest guys who have zero influence of policy or regulations - the lot of them. Just hard working self-made joes.
Yep, these guys would never dream of meddling in public affairs to further their own ends....
Anyone whose sun rises and sets on the exorbitant privelage of the PetroDollar is a real winner in my book...
More than a few Kochsuckers out there....
If you dont suck Koch Cock you dont get anywhere in the oil business.
Gee, you forgot to headline among the who's who list of crony capitalists none other than Warren Buffet, whose railroads have ... surprise, surprise ... been profiting by transporting oil each day that the Keystone pipleine remains unbuilt. Same crony capitalism that allows Berkshire Hathaway insurance subsidiaries to profit immensley by helping people get around the Death Tax that Uncle Warren insists is good for the society.
It certainly isnt the USMC. They just get to bleed for oil.
I bet some new grads would do an indentured servitude if these guys would give em food and board for 10 years or so; slavery if you will. Its better than the current job opportunities.....
Arbeit Macht Frei?
State-ify them. Turn those companies into public utilities. Arrest the owners and re-distribute their stolen wealth.
"Never mind ... I'm all messed up on cough syrup."
Notice you don't see the Rockefeller name.
David probably gets a couple of cents for nearly every transaction dollar in America.
Seems like alot of Jews swimming in Oil.
which Jew would that be??? or you just enjoy blurting out random Jew statements because its the vogue thing for bigots??????
ZH is the last front for jew hating fascist
I used to prefer Stormfront.org but now its full of paid Israeli provocateurs
If anyone hates Israel it is because of this http://www.youtube.com/watch?v=c4ZfnpN4Dfc
Charlie and Dave?
Ummm...no
It looks like they made the list. http://www.scribd.com/doc/32014804/International-Jewish-Billionaires
Who do you suppose was the nefarious goy scum that put them there? It wasn't me.
Is it just me, or is everyone on that list of German (or maybe Germanic) descent?
The Jews control the central banks. The Germans control the oil.
do these player contribute to political campaigns ? probrably not.
Oil and money go hand in hand, but, it pares by comparison to the financial industry for astounding wealth and political incest. So goes the latest news about Mitt Romney joining his son’s investment management firm as a part-time rainmaker (what are fathers for?).
http://www.politico.com/story/2013/03/report-mitt-romney-gets-job-at-sons-firm-88535.html?hp=f3
Leave it to Mitt to devise the first ever merger involving reverse leveraged nepotism. I’m sure if we could see the details of the clients and deals he brings in they will include a few lobbying swaps, congressional kickback options, and other various derivatives of the political finance ilk. Eat your heart out Angelo Mozillo.
Reverse leveraged nepotism !! Gotta up arrow you for that. Nice work.
I'd be embarrassed to only be 214th richest person in the world. If ya ain't in it to win it, might as well be the Welcome guy at WalMart.
And, BTW, I have oil and gas production too...and my name, alas, is not mentioned above.
I produce gas also, but it's low grade and not for resale. I just give it away for free. I guess that would be considered a low blow to the big boys.
This fucking ASSHOLE is ashamed of being 26th - so I dont blame you
In its 2013 list of the world's richest people, Forbes estimated Prince Alwaleed's net worth at $20bn (£13bn), putting him in 26th place.
According to reports, the prince estimates his net worth to be $29.6bn, which would put him in the top 10.
Forbes said it had examined the prince's wealth "deeply" following claims he had exaggerated his fortune.
http://www.bbc.co.uk/news/business-21665997
Except for lying, cheating and stealing I can do anything on earth better than all of them...so.. Teach you children to lie, cheat and steal? Or hack and delete accounts?
And all it takes is a gov't protected monopoly to out-rich all of them, like Carlos Slim.
What's wrong with smart self made men making an honest buck that betters the lives of many and helps raise the standard of living.....fuck I can't even finsh the joke
Vladimir Putin is the world's richest oil baron. These guys have nothing compared to him.