Until 1914, the British Government seemed to resist the formidable extension of the _Royal Dutch_ throughout the world. Under the pretext of ensuring reserves for itself, it got possession of outlets which this company had not yet touched, taking control of the _Anglo-Persian_ and in 1918 founding the _British Controlled Oil-fields_. The reason was that they were not yet allied. But since the War an event of considerable importance has taken place: Deterding has thrown in the fortunes of his trust with those of the greatest empire in the world, the British Empire, whose policy at present dominates the world. At the beginning of its history, the _Royal Dutch_ was a Dutch company. If the _Royal Dutch_ became British by its union with the _Shell_, it was German through its Rumanian share in the _Deutsche Petroleum_, which united the petroleum interests of the _Deutsche Bank_, _Steaua_, _European Petroleum_, and the _Deutsche Mineratal Industrie_. The first important capital of this powerful consortium was furnished by German banks: the _Deutsche Bank_, the _Disconto Gesellschaft_, and the firm of _Bleichröder_ are, as it were, the fundamental tripod supporting the edifice. It has been justly said that if Germany had not the most important place in the _Royal Dutch_, it is because Mr. Deterding was more concerned with British interests. He uses the power of nations as he uses money. Great Britain being mistress of the seas, he has given to British capital the most important part in his undertakings. But the Rothschild family is international. There are branches in London, Paris, Berlin, and Vienna. Mr. Deterding had safe places to anchor while waiting for the wind. During the retreat of the Rumanian army, the wells controlled by the _Royal Dutch_ were partly destroyed. Whether this destruction was the work of Rumanian or of German soldiers is not important. The _Deutsche Bank_ was associated with Mr. Deterding in Rumania. Whatever was the result of the War, the _Royal Dutch-Shell_ had to be compensated.... It would have been just the same as far as Bagdad. If Germany had gained Asia Minor, the property of the _Royal Dutch_ would still have been saved by the _Deutsche Bank_. As the Allies have the upper hand, Mr. Deterding has nothing to fear. He is in close touch with France and Britain. He is in opposition only to America. And this coalition of the oil powers is a very curious one, in which enemy nations agree at certain times and disagree at others, all of them being led by a superior power to unsuspected ends, just as they were in the world race for armaments. An important fact which may puzzle the simple-minded, is that, during the War, Mr. Deterding made his flag respected. His cleverness was such that, _whichever side was victorious_, he was bound to come out unscathed from the conflict. Since Great Britain has conquered Germany, he has thrown in his fortunes with hers.