Congratulations, SF Oil Awareness

WHEREAS, World oil production is nearing its point of maximum production (”Peak Oil”) and will enter a prolonged period of irreversible decline leading to ever-increasing prices;

WHEREAS, the United States has only 2 percent of the world’s oil reserves, produces 8 percent of the world’s oil and consumes 25 percent of the world’s oil, of which nearly 60 percent is imported from foreign countries;

WHEREAS, the decline in global oil production threatens to increase resource
competition, geopolitical instability, and lead to greater impoverishment;

WHEREAS, national oil companies own 72% of remaining oil reserves and 55% of remaining gas reserves1, and resource nationalism is increasingly dominating decisions of oil and gas development and trade relationships;
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