Private Empire: ExxonMobil and American Power

Steve Coll documents the corporate operations of ExxonMobil from the 1989 Exxon Valdez oil spill through the aftermath of the Deepwater Horizon disaster. He analyzes the company as a sovereign entity that maintains its own intelligence network and foreign policy, often operating independently of the United States government. The narrative focuses on Lee Raymond’s rigid leadership and Rex Tillerson’s subsequent management, detailing the corporation’s aggressive lobbying in Washington and its complex negotiations with authoritarian regimes in Chad, Equatorial Guinea, and Russia. Coll explains how the firm utilizes a disciplined internal culture and strict safety protocols to mitigate financial risk while resisting climate change regulations and international legal pressure.

Business professionals and policy analysts read this book to understand the mechanics of corporate influence and the integration of energy markets with global geopolitics. Readers learn how a multinational corporation exerts leverage over federal agencies and foreign heads of state to secure long-term resource access. The book provides a detailed look at the internal decision-making processes, risk assessment frameworks, and legal strategies used by executive leadership to protect profit margins against political instability. It serves as a case study in how private capital functions alongside—and sometimes in opposition to—national interests.