Chevron Texaco is the US’s second largest gas and oil company and the fifth largest in the world. In a recent merger, Chevron Texaco purchased Unocal the US’s ninth largest gas and Oil Company. This is just one of many mergers and buyouts that Chevron Texaco has acquired in past months. With the price of oil at an all time high, many thought oil companies would be concentrating efforts and funds toward new explorations. What is on the horizon for the oil industries? If the largest companies gobble up the smaller ones will we be at the mercy of these large oil barons like Standard Oil in days gone by?