Tejon won the crucial backing of environmentalists in May 2008, when it agreed to put its 240, 000 undevelopable acres into a conservation land trust. (Tejon has retained the right to ranch, farm and prospect for oil on these lands and even sell large chunks, most likely to the environmentalists.) Full approval would enable Tejon to put up 26, 000 homes on the 30, 000 acres not included in the deal.

FORBES: Stocks: Land-Rich Companies

The specific things that make oil companies successful are in how to prospect for, find, drill for, pump up, refine and sell oil.

FORBES: But, But, the Whole Point of Companies is That They Pay Investors!

For Greenland, the prospect of oil revenue is tied to its aspirations to independence.

ECONOMIST: Resources: Hidden treasure | The

What is clear is that much useful information is being gleaned about how to deal with a disaster of this kind, which can be expected to happen again, and other kinds of spills, as the prospect of deep-water drilling for oil is realised.

FORBES: Blame Big Bad BP For Now, but Where Is the Next Oil to Come From?

Such shareholders may not blink at the prospect of virgin Alaskan wilderness opening up for oil exploration, but they care if this poses a risk to a company's share price.

ECONOMIST: Multinationals and lobbyists