For Immediate Release
Contact: Ellen Carey
December 3, 2012
Leaders Offer Sweeping Oil Security Policy Essential to Strengthening Economy, Fiscal Outlook
Bipartisan National Strategy to Support Domestic Production, Oil Displacement Technology
WASHINGTON, DC – The national security and business leaders of the Energy Security Leadership Council (ESLC) today proposed a detailed oil security plan to improve the U.S. economy, promote fiscal stability, and protect national security. The proposal – A National Strategy for Energy Security: Harnessing American Resources and Innovation – supports expanding domestic energy supplies and technology to address the dangers created by the near-total reliance of the nation’s transportation sector on petroleum-based fuels. The ESLC, co-chaired by former Marine Corps Commandant General P.X. Kelley (USMC, Ret.) and FedEx Chairman, President, & CEO Frederick W. Smith, includes entrepreneurs and former military leaders committed to improving U.S. energy security through reduced oil dependence. The ESLC is a project of Securing America’s Future Energy (SAFE).
“As long as our nation remains dependent on oil, restoring economic growth and stabilizing our fiscal outlook will be undermined by the manipulated and volatile prices of a cartel-dominated global oil market. This report offers a framework for policymakers to leverage domestic energy abundance in support of mitigating the urgent and severe threat posed by oil dependence,” remarked General Kelley and Mr. Smith. Specific recommendations include:
- Responsible development of energy resources in the Outer Continental Shelf (OCS).
- State participation in the State Review of Oil and Natural Gas Regulations (STRONGER) process, which should increase its scope to develop best practices for hydraulic fracturing.
- Fuel-neutral deployment communities for oil displacement technology like electric vehicles and natural gas trucks in small- to medium-sized cities, which will serve as R&D communities to identify effective approaches to deploying these oil-displacement technologies.
- Reinstated and reformed incentives for a fuel infrastructure to compete with oil-based liquid fuels.
- Reorient the Department of Energy’s R&D activities to catalyze those technologies most likely to improve U.S. energy security;
- Improving the federal permitting process for major energy projects by streamlining authority, promoting transparency, and reducing frivolous litigation.
- Establishing an Energy Security Trust Fund seeded with revenue from new production.