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John Hittler's avatar

Royal Dutch Shell was the only oil company in the 1960's to do "scenario planning" for risks of oil production in the Middle East.

When the oil fields were nationalized, Shell was the only company that came out out. They had not done a pre-mortem on that exact scenario, but since they had envisioned failure already, they acted much quicker than the other oil companies.

It is ironic that when you ask people in advance to visualize failure, they all know what could go wrong.

Crazy not to ask.

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