Oil and National Security

During the recent presidential campaign, we heard over and over again that energy dependence is an issue of national security. 

I read a recent report from the American Petroleum Institute that really drove that home for me.  According to The Truth About Oil and Gasoline: An API Primer,  40 years ago about 85% of the world oil reserves were owned by investor owned companies (IOC), primarily in the U.S.  Today nearly 80% of those reserves are owned by national oil companies (NOC) and foreign governments.  To take that a step further, the largest U.S. holder of world oil reserves in the U.S. is ExxonMobil with approximately .6% (yes, that’s point 6 percent). 

The campaigning and the election is over, but energy independence should be a big concern of the new administration. How does this concentration affect your company? Tell us by posting a comment.