An article in yesterday’s Economist — The oil business: Big Oil’s bigger brothers — helps bring into focus the significant — and successful — role played by State oil companies. When viewed in a global context, partially or wholly state owned oil companies increasingly are controlling the pace of world oil development.
Is Alaska being left behind because it has no similar driver? There are bad examples of such enterprises, granted. But there also are major success stories. By co-investing alongside industry, Norway’s Statoil and Petoro and Brazil’s Petrobras are driving investment in their region’s resources. Could Alaska do the same?
About State Oil Companies: The oil business: Big Oil’s bigger brothers, The Economist (Oct. 29, 2011).
More about Petoro: Petoro call for mature decisions, Upstream (Oct. 28, 2011).