++ [ originally posted by Gandalf ] ++
is it really..?
oh, let me tell you something.. who occupied our countries looking for the black shit that they call "black Gold"..? who discovered the oil in our land and sea in the first place..? shall I give you a breif history about Oil and Gas industry in the ME..? or let you look for them in google..?
I'll save your time..
surface oil accumulations have been known in the ME for centuries.. but, the first active exploration programs began in the 1920's and the 1930's by American and British companies.. large scale of these axplorations expanded after WWII..
in the 1950's the production quotas and INDEED the control of the oil prices in the ME was set by seven large multinational oil companies.. these were known as the "Seven Sisters" and they are:
Exxon, Shell, Texaco, Chevron, Mobil, British Petroleum (BP) and Gulf..
in the 1960's OPEC was formed.. to regulate the production of crude oil and to bring about more realistic prices..
ADNOC (Abu Dhabi National Oil Company) was established in 1971 less than one month before the United Arab Emirates (UAE) was established.. Abu Dhabi Oil Company (ADOC) was its old name when it was formed in 1968..
it was till that day the local government get some "real" benefits of it's own oil from its own land..
in the late 70's some gas companies were established (I'm working in one of them). before that we (as most other countries) were wasting the gas associated with the crude oil and let it burn in the atmosphere.. that's a waste of millions of millions of dollars and at the same time a harm to the enviornment..
clearly it wasn't us who brought that shit up.. we happen to be living above it.. but, now that it is discovered, it would be so stupid to give it up and leave this money-making business..
