A Look at the Richest Oil Barons in the U.S.

Via: OilPrice.com

By Charles Kennedy | Tue, 05 March 2013

Forbes has recently released its latest rich list, so now would be a good time to look at the world’s billionaires who have benefited most from the US oil industry.

The Koch Brothers, Charles and David, are the joint 6th richest people in the world with fortunes of $34 billion each. Their fortune has been created from massive refineries, pipeline networks, and chemical plants,

Harold Hamm, the CEO and founder of Continental Resources, is the 90th richest person in the world with his 73% stake in Continental worth $11.3 billion. He was there at the beginning of the Bakken shale formation, and helped to develop it into the monster that it is today. In 2006 the Bakken was producing 100,000 barrels per day, and now it produces 550,000 barrels per day; Hamm and his analysts believe that it has the potential to reach 1 million bpd.

Then there are Phil Anschutz and George Kaiser, both with fortunes of $10 billion, and tied on the Forbes list at 109th.

Anschutz has built empires in oil, railroads, and telecoms, with his biggest to date being in the world of entertainment with his company Anschutz Entertainment Group (AEG).

Kaiser’s family fled Nazi Germany, before settling in the US and founding the Kaiser-Francis Oil Company; George took control in the late 60s.

Read more: here

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