Trouble for American Oil Giants

It is not news that gas prices have gone up tremendously in the past two decades, but what may be a surprise to many Americans is that the gas and oil tycoons are not really going anywhere with their businesses. Sure, business is steady and secure, but is there any new work being done? With no discoveries of new, untapped oil deposits despite their investments, the companies are running out of options to ensure their survival into the future. Companies like Exxon Mobil and BP are at risk of losing profits.


Why are these companies endangered? The more research and funding that flows into natural gas, the more people who will willingly accept an alternative means of fuel once the oil giants become too pricey. The price of crude oil has been increasing over the past decade, and as the price of it increases per barrel, the oil tycoons are losing profit and ground over the fuel game.

Updated: October 6, 2013 — 2:30 am
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