ATLAS THUGGED: Who Is The Real “Big Oil?” “The Big Picture is that over 70% of the world’s reserves are produced by National Oil Companies (NOCs). These are companies with reserves and production that dwarf those of ExxonMobil or Shell, and with names you have probably never heard unless you are in the bidness. These are companies like PDVSA, Aramco, PetroBras, CNOOC, Gazprom, Yukos, and Pemex.”

What’s interesting is that the national companies somehow seem to get a pass on environmental problems and price-gouging. It’s only the private companies that are evil, apparently.