You are too stuck in the present time with the present form of government- look at this like you were an alien from outer space. To an alien there’s no hard dividing line between a corporation and a government. And throughout human history a myriad of political forms, permanent and temporary, have existed, and all of them wield political power in one sense or another.
In the example you just gave, with the government just standing by, political power devolves to the major corporations acting in the area. Early US corporations historically had their own police forces and armies (the pinkertons). In the late 1800s strikers fought many gun battles with private security hired by barons such as Andrew Carnegie and John Rockefeller, using in some cases artillery and machine guns. Does that not count as political power?
In the example you just gave, with the government just standing by, political power devolves to the major corporations acting in the area. Early US corporations historically had their own police forces and armies (the pinkertons). In the late 1800s strikers fought many gun battles with private security hired by barons such as Andrew Carnegie and John Rockefeller, using in some cases artillery and machine guns. Does that not count as political power?