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Guest Post: A Look At The Richest Oil Barons In The U.S.

Tyler Durden's picture




 

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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Wed, 03/06/2013 - 19:32 | 3306673 swissaustrian
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Time for the Hunt family to re-enter the silver market...

Wed, 03/06/2013 - 19:55 | 3306753 The Juggernaut
The Juggernaut's picture

#IStandWithRand

Wed, 03/06/2013 - 19:59 | 3306774 Stackers
Stackers's picture

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.

Wed, 03/06/2013 - 20:35 | 3306884 kaiserhoff
kaiserhoff's picture

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,

Wed, 03/06/2013 - 20:54 | 3306939 kaiserhoff
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Thanks ilene, for your gracious, articulate, and prompt lefty response.  Tee Hee.

Wed, 03/06/2013 - 20:58 | 3306972 Zer0head
Zer0head's picture

Rand Paul is speaking

does the rest of this shit matter?

http://www.c-span.org/Live-Video/C-SPAN2/

Wed, 03/06/2013 - 21:01 | 3306981 kaiserhoff
kaiserhoff's picture

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.

Wed, 03/06/2013 - 21:34 | 3307125 kaiserhoff
kaiserhoff's picture

ilene has three gay friends.  Who knew?

Wed, 03/06/2013 - 22:04 | 3307246 AldousHuxley
AldousHuxley's picture

It is petro dollar world

 control food. Control people

 control oil. Control commerce

Control currency. Control world

 

 

Wed, 03/06/2013 - 22:12 | 3307269 disabledvet
disabledvet's picture

speaking of billionaires http://www.forbes.com/profile/tory-burch/
what a hottie. man...where did i go wrong in life.

Wed, 03/06/2013 - 22:48 | 3307396 kaiserhoff
kaiserhoff's picture

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?

Thu, 03/07/2013 - 03:56 | 3307965 Radical Marijuana
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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.

Wed, 03/06/2013 - 21:11 | 3307023 otto skorzeny
otto skorzeny's picture

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

Wed, 03/06/2013 - 19:33 | 3306676 zorba THE GREEK
zorba THE GREEK's picture

Where is Dick Chaney and GW?

Wed, 03/06/2013 - 19:51 | 3306739 Carl Spackler
Carl Spackler's picture

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.

Wed, 03/06/2013 - 22:12 | 3307267 FeralSerf
FeralSerf's picture

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.

Wed, 03/06/2013 - 19:34 | 3306679 Iocosus
Iocosus's picture

I don't see Putin on the list.

Wed, 03/06/2013 - 19:44 | 3306716 Tsunami Wave
Tsunami Wave's picture

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.

Wed, 03/06/2013 - 20:06 | 3306806 The Miser
The Miser's picture

Hugo Chavez was/is worth 2 billion. 

Wed, 03/06/2013 - 20:19 | 3306841 ersatzteil
ersatzteil's picture

According to whom? I saw the link on Drudge but the only source cited was a consulting firm.

Wed, 03/06/2013 - 20:23 | 3306853 Iocosus
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You said it.

Wed, 03/06/2013 - 19:36 | 3306687 CitizenPete
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All honest guys who have zero influence of policy or regulations - the lot of them.  Just hard working self-made joes.

Wed, 03/06/2013 - 19:47 | 3306723 Flakmeister
Flakmeister's picture

Yep, these guys would never dream of meddling in public affairs to further their own ends....

Wed, 03/06/2013 - 20:07 | 3306808 Shell Game
Shell Game's picture

Anyone whose sun rises and sets on the exorbitant privelage of the PetroDollar is a real winner in my book...

Wed, 03/06/2013 - 19:45 | 3306722 Flakmeister
Flakmeister's picture

More than a few Kochsuckers out there....

Thu, 03/07/2013 - 07:59 | 3308155 Colonial Intent
Colonial Intent's picture

If you dont suck Koch Cock you dont get anywhere in the oil business.

Wed, 03/06/2013 - 19:47 | 3306729 The Alarmist
The Alarmist's picture

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.

Wed, 03/06/2013 - 19:49 | 3306734 spinone
spinone's picture

It certainly isnt the USMC.  They just get to bleed for oil.

Wed, 03/06/2013 - 19:51 | 3306742 IridiumRebel
IridiumRebel's picture

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.....

Thu, 03/07/2013 - 07:58 | 3308154 Colonial Intent
Colonial Intent's picture

Arbeit Macht Frei?

Wed, 03/06/2013 - 19:56 | 3306760 q99x2
q99x2's picture

State-ify them. Turn those companies into public utilities. Arrest the owners and re-distribute their stolen wealth. 

Wed, 03/06/2013 - 19:58 | 3306769 The Alarmist
The Alarmist's picture

"Never mind ... I'm all messed up on cough syrup."

Wed, 03/06/2013 - 19:58 | 3306773 samsara
samsara's picture

Notice you don't see the Rockefeller name.    

David probably gets a couple of cents for nearly every transaction dollar in America.

 

Wed, 03/06/2013 - 19:58 | 3306776 Seasmoke
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Seems like alot of Jews swimming in Oil.

Wed, 03/06/2013 - 20:06 | 3306807 kito
kito's picture

which Jew would that be??? or you just enjoy blurting out random Jew statements because its the vogue thing for bigots??????

Wed, 03/06/2013 - 20:19 | 3306833 MoneyThangs
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ZH is the last front for jew hating fascist

Wed, 03/06/2013 - 21:12 | 3307031 otto skorzeny
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I used to prefer Stormfront.org but now its full of paid Israeli provocateurs

Thu, 03/07/2013 - 05:00 | 3308008 Notarocketscientist
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If anyone hates Israel it is because of this http://www.youtube.com/watch?v=c4ZfnpN4Dfc

Wed, 03/06/2013 - 22:18 | 3307295 FeralSerf
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Charlie and Dave?

Wed, 03/06/2013 - 22:30 | 3307339 kito
kito's picture

Ummm...no

Thu, 03/07/2013 - 00:25 | 3307677 FeralSerf
FeralSerf's picture

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.

Wed, 03/06/2013 - 20:08 | 3306812 SubjectivObject
SubjectivObject's picture

Is it just me, or is everyone on that list of German (or maybe Germanic) descent?

Wed, 03/06/2013 - 20:27 | 3306860 Teddy Turner
Teddy Turner's picture

The Jews control the central banks.  The Germans control the oil.

Wed, 03/06/2013 - 20:28 | 3306865 CharliePrince
CharliePrince's picture

do these player contribute to political campaigns ?  probrably not.

Wed, 03/06/2013 - 21:33 | 3307117 Downtoolong
Downtoolong's picture

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.   

Thu, 03/07/2013 - 10:44 | 3308497 S5936
S5936's picture

Reverse leveraged nepotism !! Gotta up arrow you for that. Nice work.

Wed, 03/06/2013 - 21:33 | 3307121 Whatta
Whatta's picture

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.

Thu, 03/07/2013 - 00:17 | 3307629 Ima anal sphincter
Ima anal sphincter's picture

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.

Thu, 03/07/2013 - 04:51 | 3307998 Notarocketscientist
Notarocketscientist's picture

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

Wed, 03/06/2013 - 21:58 | 3307230 Falconsixone
Falconsixone's picture

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?

Wed, 03/06/2013 - 23:03 | 3307460 bjfish
bjfish's picture

And all it takes is a gov't protected monopoly to out-rich all of them, like Carlos Slim.

Thu, 03/07/2013 - 02:35 | 3307907 prains
prains's picture

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

 

 

Thu, 03/07/2013 - 06:01 | 3308041 EmileLargo
EmileLargo's picture

Vladimir Putin is the world's richest oil baron. These guys have nothing compared to him.

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