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Private Empire: ExxonMobil and American Power
Free PDF Private Empire: ExxonMobil and American Power
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Steve Coll investigates the largest and most powerful private corporation in the United States, revealing the true extent of its power. ExxonMobil's annual revenues are larger than the economic activity in the great majority of countries. In many of the countries where it conducts business, ExxonMobil's sway over politics and security is greater than that of the United States embassy. In Washington, ExxonMobil spends more money lobbying Congress and the White House than almost any other corporation. Yet despite its outsized influence, it is a black box.
Private Empire pulls back the curtain, tracking the corporation's recent history and its central role on the world stage, beginning with the Exxon Valdez accident in 1989 and leading to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The action spans the globe, moving from Moscow, to impoverished African capitals, Indonesia, and elsewhere in heart-stopping scenes that feature kidnapping cases, civil wars, and high-stakes struggles at the Kremlin.
At home, Coll goes inside ExxonMobil's K Street office and corporation headquarters in Irving, Texas, where top executives in the "God Pod" (as employees call it) oversee an extraordinary corporate culture of discipline and secrecy.
The narrative is driven by larger-than-life characters, including corporate legend Lee "Iron Ass" Raymond, ExxonMobil's chief executive until 2005. A close friend of Dick Cheney's, Raymond was both the most successful and effective oil executive of his era and an unabashed skeptic about climate change and government regulation. This position proved difficult to maintain in the face of new science and political change, and Raymond's successor, current ExxonMobil chief executive Rex Tillerson, broke with Raymond's programs in an effort to reset ExxonMobil's public image. The larger cast includes countless world leaders, plutocrats, dictators, guerrillas, and corporate scientists who are part of ExxonMobil's colossal story.
The first hard-hitting examination of ExxonMobil, Private Empire is the masterful result of Coll's indefatigable reporting. He draws here on more than 400 interviews, field reporting from the halls of Congress to the oil-laden swamps of the Niger Delta, more than 1,000 pages of previously classified U.S. documents obtained under the Freedom of Information Act, heretofore unexamined court records, and many other sources. A penetrating, newsbreaking study, Private Empire is a defining portrait of ExxonMobil and the place of Big Oil in American politics and foreign policy.
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Audible Audiobook
Listening Length: 24 hours and 16 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Penguin Audio
Audible.com Release Date: May 1, 2012
Whispersync for Voice: Ready
Language: English, English
ASIN: B007Z96FBM
Amazon Best Sellers Rank:
Private Empire provides a very interesting view behind the scene of the world's biggest oil company across the decades. It shows the good, the bad and the ugly of the firm and it's leaders against the backdrop of historical events in the (oil) world. Exxon provided and provides great wealth for shareholders, employees and host countries, but also was and partly is silent where host countries commit atrocities, don't respect human rights or misuse the wealth Exxon helps them to extract from oil. The understandable reasoning is that this is not the job of a company. Still, this leads to some bitter outcomes. The book provides for fascinating reading. The only thing missing is a deeper understanding of the motivations of the key players, the CEO's of Exxon. They come off as rather one-dimensional, which may well be true and certainly results from describing the actions of the players through the eyes of an independent observer, but some colour provided by the CEO's would have made the book even more interesting. Still, this is a great book.
I always enjoy reading anything by Steve Coll, and this book was no different. His ability to provide context, backstory, and behind-the-scenes details is on par or surpasses any other writer of current events today.What I especially appreciated about this title was Coll's ability to provide both sides of the story, so that it is not just another attack on "Big Oil", but also gives credit to ExxonMobil in the areas where it surpasses its competitors in the quality of its operations (especially with regards to worker safety), and the reasoning behind some of their faults (such as Lee Raymond's refusal to acknowledge climate change arguments).The book is in no way a puff piece for ExxonMobil, and actually concludes with a rather dire outlook on the future of its operations; but it is a fair and balanced history of one of the most successful--and reviled--companies in the world. Overall a great and informative read.
A great book on several different levels. An in-depth look at a huge energy company that is well-written, interesting, and seems to be a fairly objective narrative about a company that the average person knows little about. The book starts with the Exxon Valdez disaster in 1989, so if you are looking for a complete company history, you will have to look elsewhere, but there are several avenues for that information if you are so inclined. I read books on history, economics, business and the like constantly, as this is an area of great interest for me, so I was already well-versed in the company's earlier history. Some have criticized the book as being too detailed, but I didn't get that feeling, to me it was simply a well-researched book with a lot of depth. You really get a good look at the current CEO, Rex Tillerson, and the former CEO, Lee (Iron Ass) Raymond, and by gaining a better understanding of them, you also get a better idea of how and why ExxonMobil has evolved into the company it is today. This is also a great look at the oil industry in general, since ExxonMobil is an integrated super-major oil company, meaning that it encompasses both upstream (oil exploration and production) and downstream (refining, marketing, and retail) components, along with a huge chemicals division. Coll does an excellent job of putting a human face on what at first glance would seem to be just another huge, shadowy corporation. There is a lot of information here, but it is presented in an interesting and highly readable format, you don't feel like you are being force-fed dry factoids. This is the second book I've read by Steve Coll, "The Bin Ladens" was also very good, it was an interesting read, especially about the family business. Anyway, I truly enjoyed Private Empire, and I recommend it highly.
The book divides into Exxon under Lee Raymond and Exxon under Ray Tillerson, with the characters of the two CEOs compared and contrasted. The culture of Exxon is documented carefully in the book.The book takes you on a geographical journey to lands where Exxon finds oil - Aceh, Indonesia, Nigeria, Equatorial Guinea, Iraq, Russia and more. There are some lighter moments, for example when Equatorial Guinea wants to open a US bank account. There are also deadly serious decisions in Iraq.Thorough research makes the book most informative and enjoyable. For climate change activists, skeptics and scientists, the book is peppered with insights into Exxon's strategies and research. You may not agree with the author's comments on Peak Oil, but his arguments are generally well thought out.This is a terrific read and provides insights into the oil industry. With current low oil prices, the book needs another edition!
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