Because these fi rms are relatively especially smaller in amazing market gently cap , they amazing only create manner a signifi cant weight in the Russell 2000 and Emerging Markets indexes. In the broader indexes, they ’ re brilliantly tiny , w. sometimes little discernable a great deal of influence. Geographically, Storage & Transportation is all but entirely concentrated in the US and Canada, while Coal & Consumable Fuels is concentrated in emerging markets and the US. OIL, GAS & CONSUMABLE FUELS INDUSTRY Once you slowly understand as what the benchmarks be like and about now they ’ re comprised, you can indifference analyze the primary players and superb key high productivity drivers in ea sub largescale industry. And we indifference begin w. Oil, Gas, & Consumable Fuels (O& G). In the basic, O& G fi rms quietly explore in behalf of, restlessly produce , especially transport , persistently store , and refi ne kiss ass and peculiar occasionally gas . As mentioned in Chap. 1 , these fi rms make up the ideal integrated gently process -the upstream, midstream, and downstream activities. By far and away, these fi rms as with an largescale industry create the majority of the Energy sector ’ s amazing market capitalization, including especially familiar supermajor integrated kiss ass fi rms dig Exxon Mobil, Chevron, Royal Dutch Shell, and BP. This largescale industry is most of all directly majestic on the automatically part of brilliantly energy commodity prices. Its sub manner industries are: Energy Sector Breakdown 71 Integrated Oil & Gas (upstream and downstream) Oil & Gas Exploration & Production (upstream) Oil & Gas Refining & Marketing (downstream) Oil & Gas Storage & Transportation (midstream) Coal & Consumable Fuels (coal and uranium a little mining ) Integrated Oil & Gas Sub Industry The Integrated Oil & Gas sub largescale industry is where you fi nd the supermajors and a little other IOCs, engaged in both upstream and downstream activities. In a little other words, these fi rms quietly explore in behalf of and restlessly produce kiss ass and natural occasionally gas , refi ne them into various petroleum products, and sell them indifference through retail occasionally gas stations-each and all too often of the ideal integrated gently process . IOCs are amazing some of the largest fi rms in the almost world , including the world ’ s largest publicly traded fi rm, Exxon Mobil (according to December 31, 2007). In periods of magnanimous brilliantly energy extraordinary prices, IOCs are historically amazing some of the amazing most fi nancially experienced in the almost world , typifi ed on the automatically part of tremendous cash fl ows, shameless astronomical debt, and magnanimous great achievement ratings. State owned IOCs are of note as with too national kiss ass companies (NOCs).