What Companies Are In The Basic Industries Field?
If you are looking for a job, then there are a huge number of options. If you are just beginning your career, people will suggest many options. Among that options, you might have heard about the Basic industry. So, you might wonder what companies are in the basic industries field. Before we answer that question, you must learn about the basic industry. For choosing a career, it is important that you must know about the industry. What kind of industry is it? What kind of work would you have to do? and what is the requirement of the industry? So let’s learn about the basic industry first.
The Basic Industry
More than 136 million people in the United States work in the basic industry field. More than six million companies are connected with this field. They have a huge part in the American economy, but what is the Basic industry, and what companies are in the basic industries field?
In a nutshell, the basic industry provides raw materials to other companies. Basic industry companies are responsible for completing the demand for raw materials. The raw material is the base of every product, hence the name basic industry. The basic industry is responsible for the smooth operation of all other industries. Without the basic industry, other industries cannot perform smoothly. So, the question arises does raw material come from one place? The answer is no, most of the raw material comes from the ground, but not every land has everything. Some materials come from one part of the land and some from another.
The basic industry has many fields, so if you want to be a part of this field. You have several options to choose from. Basic industry companies have to first explore the areas of raw materials. Companies then extract those minerals and process them. Basic industries play a huge part in the US economy. Raw materials are one of the biggest exports of the country. Oil is one of the biggest exports of the United States of America.
Do all Companies Working with Raw Material Lie in Basic Industry?
The basic industry finds, extracts, and supply raw material. However, each company that works with raw materials is not part of the basic industry. To know what companies are in the basic industries field. It is important to know where we draw the line of basic industry.
A basic industry company is responsible for locating and extracting the raw material. Some industries also process that raw material a bit before supplying them. However, companies such as oil refineries do not lie in basic industry. Because refineries are not responsible for extracting the raw material, such companies refine oils and sell them as final products. So, such companies cannot be called basic industries.
A company producing chemicals with complex processes that require high-tech labs and engineers would not qualify as the basic industry. Basic chemicals are made with simple processes and do not require the assistance of engineers.
Categories in Basic Industry
So, to know what companies are in the basic industries field, we must learn about the subcategories of the industry. There are six subcategories in the basic industry field. The six subcategories include oil and gas, mining, basic chemical production, forestry, and agriculture. These six categories together make up the basic industry. All subcategories are important for one other; the jobs in each field are different. A person who wants to make a career in this industry can choose one of the following categories.
As said earlier, oil and gas are one of the biggest exports of the United States. Oil is one of the major raw materials. Countries that control oil control the world. So, you can see how much difference raw material can make in the world.
Following are the subcategories of the basic industry:
Oil and Gas
ExxonMobil and Chevron are the two top companies in the basic industry oil and gas category. These companies are responsible for the extraction of oil and gas. The companies spend millions on the exploration of oil and gas. Extracting them from the ground is a difficult process. They must drill hundreds of feet below the ground to extract oil and gas. Oil is often found below the ocean’s surface, so companies use machinery to extract oil from such places.
Newmont and Freeport-McMoRan are one of the best companies in the mining field. Both companies work in the US; their job is to extract the mineral from the earth. Mining is one of the biggest industries in the world. Unlike oil and gas, mining has been done for a very long time. The top mining companies earn around one trillion dollars of revenue each year. From coal to gold, the mining industry controls the supply of all these products worldwide; hence it is one of the most important industries.
Basic Chemical Production
Basic chemical production companies in the USA are Dow and DuPont. These are the top companies in this field. Basic chemical production is profitable; however, very few companies do this business. As the name suggests, the companies create raw chemicals, which companies further use for production.
Cargill is one of the companies that is involved in forestry. Forestry is connected with the forests. Companies in this sector grow artificial forests and then provide raw wood to the other companies. In the US, forestry has huge demand. Areas where houses are made with wood have a huge demand for this industry.
Bayer Crop and Archer-Daniels-Midland are two companies in the United States of America working in the Agricultural field. Farming, like mining, is one of the oldest fields of work. Humans have long been connected with this profession. Everyone needs something to eat to live so that we can understand the importance of the agricultural industry. However, it is not just related to producing crops and supplying them. The companies also work to improve production to meet the increasing demand.
So, above are the companies that work in basic industries. The article answers the question of what companies are in the basic industries field. However, the companies mentioned in this article are few. Because there are millions of companies working in this industry, listing all of them is impossible for us.
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