Cars and oil wrote the history of twentieth-century American capitalism
After a century of prosperity and power, the industries that shaped America more than any others are now at a crossroads. The age of oil and cars is giving way to something new. Together these two industries dominate world business because of their sheer size. The big five of oil-ExxonMobil, Royal Dutch/Shell, BP, Chevron, and ConocoPhillips-and the world's automobile giants-General Motors, Toyota, Ford, Daimler, and Volkswagen Group-dominate the lists of the global top-fifty corporations. Each has sales between $100 billion and $200 billion.
They spend huge sums each year looking for oil, extracting it, making today's cars, and developing technologies for the cars of tomorrow. GM in the past five years has spent the seemingly awesome sum of $1 billion on research into c ... read full excerpt from: ZOOM ebook
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