The industry has a changing face alright. The US is down to one major player- Chevron. The others are either drilling, blenders, refiners, marketing, but there's only US company that does it all. Mobil/Exxon hasn't signed a new lease for oil rights in years. They're also closing refineries due to pressure from DC and the EPA. If there was a war to break out, we'd be in a bad way in regards to hydrocarbon fuels. We lack the exploration yet sit on the largest reserves in the world. We lack refining although we are the largest consumer in the world. And we allow foreign nations to control what reserves we do have. Texas is having a revival of oil. The genesis of oil is an unknown but wells are coming back that were dry about 10 years ago. New drilling is being done all across Texas but by companies like BP or CNPC (Chinese). So here we are, the 3rd largest economy in the world sitting on the best and largest oil reserves in the world, possess the best technologies in the world, and we let foreign nations control the one thing we can't afford to have any foreign nation control, our energy resources. You can thank our current communists in DC for that.