By Steve Coll - Private Empire: ExxonMobil and American Power (4/15/12)

In the great reach for colonies that Europe began hundreds of years ago, at center stage were several curious entities that wielded more power than many governments. The United Company of Merchants of England Trading to the East Indies (commonly known as the East India Company) and its counterpart, the Dutch East India Company, fielded their own warships and armies, coined money and ruled territory eventually taken over by Britain and the Netherlands. Later, the seizure of land by Cecil Rhodes's British South Africa Company also preceded the spread of British pink across the map. Continue reading the main story Related Coverage Times Topic: Exxon Mobil Corporation Centuries from now, historians sweltering away on an overheated planet and looking back to our own times will surely see multinational oil companies as similar players. The way they're reshaping today's world, however, is not by carving out future colonies, but by searching for the oil and gas we're so hungry for in ever more risky places: beneath oceans, in Canadian tar sands, in underground rock formations that require "fracking" and in the environmentally fragile Arctic waters newly accessible as the polar ice cap shrinks - thanks, of course, to our addiction to fossil fuels. That addiction is likely to change the very level of the seas the East India Company's ships sailed in their hunt for cloth and spices, and the floods and droughts ahead may set in motion desperate migrations dwarfing those of colonial times.