The Secret World of Oil

By Ken Silverstein

A riveting, immersive investigative exposé of the corrupt and violent side of the globe's key industry.

Oil is the lifeblood of modern civilization, and the industry that supplies it has been the subject of intense interest and scrutiny, as well as countless books. And yet, almost no attention has been paid to little-known characters vital to the industry—secretive fixers and oil traders, lobbyists and PR agents, gangsters and dictators—allied with competing governments and multinational corporations. Virtually every stage in oil's production process, from discovery to consumption, is greased by secret connections, corruption, and violence, even if little of that is visible to the public. The energy industry, to cite just one measure, violates the US Foreign Corrupt Practices Act more often than any other economic sector, even weapons. This book sets out to tell the story of this largely hidden world. Based on trips to New York, Houston, New Orleans, Paris, Geneva, and Phnom Penh, among other far-flung locales, The Secret World of Oil includes up-close portraits of Louisiana oilmen and their political handlers; an urbane, captivating London fixer; and an oil dictator's playboy son who had to choose among more than three dozen luxury vehicles before heading out to party in Los Angeles. Supported by funding from the prestigious Open Society Foundations, this is both an entertaining global travelogue and a major work of investigative reporting.

• Language: English
• Publisher: Verso
• Release date: May 10, 2014
• ISBN: 9781781686454

Reviews for The Secret World of Oil

[katsmiao · Rating: 3 out of 5 stars]

I was intrigued by this book and excited to read it.

I know there are a lot of secret deals, dirty politics and corruption, same as in some other industries.
I was interested in reading about the behind the scenes players and dealings, but I found the book to be quite biased. from the writing style, and some of the chosen wording, you can tell the author's low regard for either oil companies or specific players in the industry.
This was disappointing for me. I was looking for more of an investigative report without the author trying to tell me what my opinion should be.

[plappen_1 · Rating: 5 out of 5 stars]

This book provides a peek behind the curtain at the business part of the oil industry, still a major part of the world's economy.If an oil company wants to start drilling in a "new" country, like Equatorial Guinea, or somewhere in Central Asia, all they have to do is go to the president or Prime Minister, buy an oil lease, and start drilling, right? Wrong; there are other officials who need to be consulted, and compensated, first (American law forbids bribery, but American oil companies know that it's part of the cost of doing business). That is why "fixers" are so important. They know the local political landscape, or they have connections to the right officials. They also know how much the company should pay in "rebates" or "commissions."Your father is the leader of some small country, with lots of oil reserves (the national treasury is treated like your own personal bank account). Your biggest decision is what glittering residence will you visit, your Malibu mansion, your Manhattan penthouse, or your villa on the French Riviera. Also, which of your dozen luxury cars will you bring with you?There are a number of ex-politicians who travel the world making speeches about oil. Former British Prime Minister traveled to Azerbaijan where he received $150,000 for a speech lasting less than half an hour. In it, he said nice things about President Aliyev, whose human rights record is pretty horrible.Neil Bush, part of the Bush family, has a bad record in the oil business. His companies don't just fail; they tend to crash and burn. But the Bush name is enough for foreign companies and governments to pay him tens of thousands of dollars for introductions.This is a very interesting look at the oil industry. The author actually traveled the world, meeting the people portrayed in this book. The reader will learn a lot, and it is very much worth reading.

[mutacto · Rating: 5 out of 5 stars]

The book provides insight into importance of middlemen in energy industry.

[waltnoise_1 · Rating: 5 out of 5 stars]

The Secret World of Oil exposes the machinations of various oil traders and shady deal makers. If you’ve wondered how sanctions are busted or how all that money winds up in Swiss banks, you’ll find this interesting. And why do people like Tony Blair and Bill Clinton get paid so much for banal speeches?