BAKKEN OIL BUSINESS JOURNAL

June-July 2014

The BAKKEN OIL BUSINESS JOURNAL is a high-gloss, full-color magazine with a targeted distribution that gets our Advertisers in front of the RIGHT EYES in this industry. Direct mailed to Companies in the Bakken with bonus distribution at Energy Shows.

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Read online @ B A K K E N O I L B I Z . C O M / d i g i t a l - j o u r n a l 21 "Building it Better" ➢ General Contractor ➢ Pre-engineered Steel Buildings ➢ Commercial Concrete ➢ Design/Build Williston, ND • 701-729-6261 A FULL SERVICE GENERAL CONTRACTOR critics claim? First, a little history. Fred Koch, the father of David and Charles, went to MIT where he earned a chemical engineer- ing degree, and in 1927 he developed a better way to refine oil. However, he and his invention were rebuffed by US oil companies. The rejection led him to the Soviet Union where he trained engineers who built 15 refineries operating on his new refining principles. When Stalin brutally eliminated some of his Soviet colleagues, Fred Koch was awakened to the truth about the regime for which he worked. Soon he returned to the US and founded the Rock Island Oil & Refin- ing company in Wichita, Kansas. He also became intensely anti-communist, a change driven by his guilt over aiding the Soviet dictatorship. In 1958 Fred became one of the earliest members of the John Birch Society, an organization that distrusted the gov- ernment and believed the US was heading into a future of communism. Birchers went so far as to view even President Eisenhower as a possible communist agent. Meanwhile, as his sons were growing up he shared with them his beliefs about the failings of the government. Eventually Charles and David embraced the thinking of economist Frederick von Hayek, best known for writing "The Road to Serfdom." He was a believer in the free market, the freer the better. Hayek's thinking about unrestrained capitalism appeals to many conservatives and to anti-communists. One well known proponent is Glenn Beck. Meanwhile, in preparation for their roles in the future of the Rock Island Oil & Refining Company, Fred's sons also at- tended MIT. After Fred died in 1967, his sons took full con- trol and renamed the company Koch Industries in his honor. Then they began to build the organization into an extensive enterprise, an effort that has succeeded wildly, expanding the business from its oil company roots to a conglomer- ate with operating divisions in several industries. O n e of their most notable moves was the 2005 purchase of Georgia Pacific, maker of Brawny paper towels, wood products and chemicals, for $21 billion. Sev- eral years earlier, in 2000, Koch Industries ➤ cont., pg 22

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