Where on Earth is big oil spending its $200b profit bonanza?

Where on Earth is big oil spending its $200b profit bonanza?
(Image: Getty)
The Economist
Towards the end of the second world war, Franklin D. Roosevelt attended a fateful gathering of world leaders that helped determine the course of geopolitics for decades. No, not the Yalta summit. Immediately after FDR, Churchill and Stalin had carved up the world into spheres of influence, the American president slipped away on to an American naval vessel to meet quietly with Abdul Aziz ibn Saud, king of Saudi Arabia. In return for protection of the Sauds’ sovereignty in the Holy Land, the monarch agreed to grant American oil fi...

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