But the recent history of oil supply and demand gives a hint to what even a partial deflation of the carbon bubble can bring.
If you know the history of global oil in the years before World War Two, then you realize there is nothing new about America enjoying energy independence as Asia worries about its own needs.
FORBES: What Happens When America No Longer Needs Middle East Oil?
Mattei shook up the business by offering oil-exporting nations a bigger share of production. (He also reportedly tried to win a sweet deal by enticing the Shah of Iran with an Italian princess.) At one point British diplomats fretted that Mattei's dealmaking could "seriously prejudice the stability of the Middle East, " according to The Prize, Daniel Yergin's 1991 history of the oil business.
And the proceedings will necessarily slog through all the gory details of the biggest oil spill in U.S. history, forcing those of us who follow the oil industry to suffer flashbacks of the horrific explosion, oil-soaked beaches and those endless hours keeping half an eye on the submarine video feed of oil gushing from the Macondo well.
In The Prize, which won the Pulitzer Prize for nonfiction in 1992, Dan provides a comprehensive history of oil that traces the development of the industry from its beginnings in the 19th century when it began producing kerosene for lamps to the oil crisis of the 1970s, through to the Gulf War.
In the case of Murphy Oil Corp, looking at the history chart for MUR below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 2% annual yield.
The company is still involved in myriad lawsuits regarding what many consider the worst oil spill in the history of the Gulf coast.
FORBES: BP's Post-Macondo Reality: Rising Profits On Falling Production
The Deepwater Horizon accident, in which an oil rig exploded killing 11 people, caused one of the worst oil spills in history.
Like Pearl Harbor, the Kennedy assassination, and 9-11, the BP ( BP) oil spill promises to alter the course of history and seems certain to change the course of our financial futures and choices.
Levels of dissolved oxygen in deep water have dropped about 20 percent below their long-term average, according to data collected from up to 60 miles from the well at the center of the worst oil spill in U.S. history.
In the case of Big Bank Big Oil Capital, looking at the history chart for BBO below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 10% annual yield.
FORBES: Big Bank Big Oil Capital Dividend Yield Pushes Past 10%
The millennium year will be remembered as the year when oil firms raked in some of the biggest profits in corporate history.
If Mr. Dudley has anything to say about it, many of those jobs will be with BP even before it has finally and honorably dealt with the legacy of the worst oil spill in history.
WSJ: The Weekend Interview with Bob Dudley: Three Years After the Spill, BP Gets Bullish
The combination of higher volumes of domestic oil and gas being pumped and the loosest monetary policy in history should make mid-stream master limited partnerships one of the safest bets for 2013.
And this despite sitting upon history's biggest free lunch in the form of oil wealth.
While the latter have most of the oil and grand building projects and bling, Omanis remain wedded to 5, 000 years of history and culture, preserving traditional buildings, opening museums and occasionally bemoaning the flash modernism of their neighbours in the UAE.
Total could also take the mantle, but while ExxonMobile has a history of timely efficiency in its projects, the Kazhak government probably fears a loss of bargaining power by letting the biggest oil and gas company in the world take control of its gas field.
Rockefeller, who became one of the richest men in history with the earnings from Standard Oil.
FORBES: Of Top Ten Richest Guys In Congress, Only Half Earned Their Net Worth
The same judge is also presiding over a separate trial of BP and other companies on civil charges over the oil spill, which was one of the worst in US history.
The Deepwater Horizon rig - operated by Transocean on behalf of BP and its partners - exploded on 20 April and later sank with the loss of 11 lives, leading to the worst oil spill in US history.
Rockefeller, founder of Standard Oil. (Often regarded as the richest person in history).
The explosion in April of that year of a drilling rig in the Gulf of Mexico triggered the largest offshore oil spill in the country's history.
Mr. Ahmadinejad, without mentioning any countries, weighed in on the mounting confrontation with Saudi Arabia in his speech, saying those promising to boost oil output were tools of the West with a short view of history.
It discovered the largest offshore oil deposits in recent history back in 2007 and 2008, off the coast of Rio de Janeiro.
FORBES: How the Wall Street Journal Set Off a Firestorm Against Petrobras
The oil spill has the potential to become one of the worst in U.S. history, Landry said Tuesday.
ConocoPhillips China shares the well with China oil company CNOOC (CEO), a government owend oil giant that has a history of covering up and downplaying oil spills.
FORBES: Another Oil Leak Reported At China's Largest Offshore Well
The oil spill damaged the Gulf of Mexico coast causing one of the biggest environmental disasters in US history.
The longest-serving Republican in Senate history, Stevens was indicted on charges of concealing gifts he received from an Alaska oil services company.
They will lead the National Commission on the BP oil spill in the Gulf, which is now the greatest environmental disaster of its kind in our history.
WHITEHOUSE: A Full and Vigorous Accounting of the BP Oil Spill
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