Who actually owns U.S. oil and natural gas companies? If you’re one of the economic illiterates in the “Occupy” movement, you no doubt believe the oil and gas industry is owned by “the 1 percent”. But you would be wrong. A new study just released proves the middle class (ie you) owns the vast majority of America’s energy companies via pension plans like 401(k)s and IRAs, as well as by individual stock investments. The numbers break down as follows: 50 percent of shares in energy companies are held by public and private pension plans, 20 percent by individual investors who own stock, 27 percent of shares belong to financial institutions and asset management companies, and 3 percent of outstanding shares are held by the officers and board members of the energy companies themselves.
The study, "Who Owns America’s Oil and Natural Gas Companies," was commissioned by the American Petroleum Institute and conducted by Sonecon. The full 22-page study is embedded below.