As per the study, at the end of the first Gulf War in 1991, out of the 20 largest companies in the energy sector, 55% were American and 45% were European. In 2007, 35% of them are from BRICs countries, 35% are European and only 30% are American.
The BRICs are now expected to venture into the food and pharmaceutical industries.
The U.S. is now lagging with the smallest percentage number of energy companies worldwide. If you think about the global resource industry typically being a leader in terms of global trends, we’re starting to see this replicated in the mining industry where 20 percent of the top 20 companies are now from BRICs countries. We believe this sort of pattern will be repeated industry by industry.