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| The Seven Sisters: The Great Oil Companies and The World They Shaped |  | Author: Anthony Sampson
Publisher: Bantam
Category: Book
Buy Used: $37.97
Used (4) from $37.97
Avg. Customer Rating:  4 reviews
Sales Rank: 284767
Media: Mass Market Paperback
Number Of Items: 1
Pages: 414
Shipping Weight (lbs): 0.5
Dimensions (in): 6.8 x 4.2 x 1
ISBN: 0553242377
Dewey Decimal Number: 388.2728209
EAN: 9780553242379
ASIN: 0553242377
Publication Date: May 1, 1991
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Book may contain library markings and wear. Thousands of satisfied customers!
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| Customer Reviews:
Simply thes best hisotry of the Oil Industry ever written; of timely importance even today October 15, 2008
1 out of 1 found this review helpful
Forget the more famous "history" of the oil industry "the Prize" this book is the actual history and it remains as relevant in modern times (I write this in 2008 months after the Russia/Georgia conflict and as the global financial crisis unfolds) as it was when first written in the mid-1970s, another period of great turmoil in world energy prices and global economic upheaval.
Ask anyone who lived through the oil industry in the past two to three decades if this is an accurate, let alone well written book they will answer in the affirmative. You will not get that universal endorsement of other accounts. What makes the big difference is that Sampson took the trouble to get inside the story and meet and understand what made the great oil leaders tick, why governments did what they did and what the geopolitical implications were.
If you want to know what really happened in the great battles and achievements of the past and get a strong insight into our own times of resource nationalism and rise and rise of national oil companies, you need to include this perspective in your reading (and re-reading).
Price fluctuations have a small affect on the demand for oil March 27, 2006
5 out of 10 found this review helpful
Rockerfeller realized to dominate the oil industry, money needed to be focused on refining and distributing. The secondly Rockerfeller capitalized on connecting oil and railroads. Atlantic and Western became the chief carriers of oil. Rockerfeller forced the rail roads to give cheaper rates and allowed increased profits. Rockerfeller's joint stock in Standard Oil company which he bought for $1 million gave him 27% ownership; Standard Oil represented 1/10 of all the oil in the US.
Price fluctuations have a small affect on the demand for oil. Consumers depend on oil as the source of energy for heating, transportation, and industry and oil has not substantial competing energy substitutes, therefore, demand remains constant. Big companies with huge concessions continue to produce at uneconomical prices, to keep their refineries going at any price. The industry fails to self-adjust. The big companies claim self adjustment because, the greater the output the higher the costs of additional output.
OPEC created a secondary government and it is immune from taxes. Rockerfeller believed he was serving as a divine servant, imposing order among chaos; as the first captain of industry, he was confident that his leadership and vision were building the modern America. However, the individual felt threatened by the morality of the new industrial morality.
Exxon, Mobil, and Socal from were called the Standard Oil group and sold their oil at the same price. 1911, Exxon acted as the holding company for the group; it was the biggest oil company in the world; it served as the banker for the other sisters providing funds for exploration and development; it had money and markets but very little oil. Oil was bought cheaply from Russia and Venezuela and resold to America markets.
1925, Mobil based out of NY had huge markets and sold its oil to England and the Far East.
1895, SOCAL based out of California exported oil across the pacific to China; in 1919 SOCAL provided 26% of the US oil production; it had plenty of oil by not enough markets. In 1901, Anthony Lucas hit the largest oil field in the world, in Pittsburg. James Guffey invested $1 million and setup pipelines running from the oil field to the Altantic Gulf which was exported to the world. Control of financing, for $15 million, too become profitable, was arranged by William Mellon, who became VP of Gulf. Guffey was ousteaded.
Texaco made good profits by buying cheap Spindletop oil and selling it to sugar planters and Standard in the East; by 1904, Lake sour produced 5% of the US oil. Texaco established nation wide organization. Shell was founded by Marcus Samuel. Samuel perceived the crucial importance of economies was in the transportation of the oil and so he looked for the closest supply to meet local demands. Samuel established a strong base in Japan where he shipped coal then oil to Japan. When oil was discovered in Russia, Samuel received financing to develop and purchase the oil from the French bank group; this action impinged on the Rockerfeller's market of oil. Samuel entered into a price war on every oil market, at once; he subsidized low prices in one area and made up for it by higher prices in another area; he moved Russian oil by tanker to the Far East storage tanks; and was able to survive the Rockerfeller price cuts.
Shell experienced growing profits especially in Asia and Japan. Royal Dutch operated in the East Indies and Kessler found oil in Sumatra. Shell and Gulf form a sister agreement: Samuel agrees to purchase 100,000 tons of oil from Gulf for 21 years at a fixed price and Shell was bringing oil from Texas to Europe. Samuel established a company in Germany. Samuel shares Shells marketing system with Royal Dutch. Gulf dries up and causes a crisis for Shell; this forces a merger with Royal Dutch, 60/40 and Deterding was at the helm as the managing director. Samuel convinces Admiral Fisher to push to converted Navy ships from coal to oil. Oil was discovered in India's Burmuda, and English providence; Fisher was friends of Winston Churchhill and used his influence to lobby for the coal to oil conversion.
BP had its oil fields in the Middle East. Churchhill promoted BP and then British bought 51% of the company. Britian still needed Shell oil but used BP to ensure fair prices.
 A Good History Book! August 17, 2000
12 out of 12 found this review helpful
This was a highly interesting book. The title,the Seven Sisters refers to the seven oil companies who dominate the world petroleum marker. This book gives a history of each of the seven sisters(such as Exxon and Shell). This book also tells of the shaping of the world of oil as we know it today. The Seven Sisters also tells of events that have occurred that have had bearing on the world of petroleum. All in all I found this to be a very in formative book that made for informative reading. You will not be dissapointed if you purchase it.
History of Oil April 4, 2000
8 out of 8 found this review helpful
This book tracks the development of the major oil companies of the 20th century and their efforts to ensure adequate supplies, pacify oil producing governments, all the while turning a profit. The behind-the-scenes story of the turbulent oil business will fascinate anyone who lived through the oil crisis of the 1970's. Get ready for higher gas prices this summer!
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