Washington, D.C.—Securing America’s Future Energy (SAFE) applauds the Trump administration for its executive actions to modernize our energy system by revisiting the Keystone XL and Dakota Access pipelines and streamlining pipeline permitting. However, SAFE cautions that more must be done through both supply and demand side policies to reduce our oil dependence.
“Infrastructure is a critical component of our energy system, and we applaud this administration’s swift action on this issue,” said Robbie Diamond, the President and CEO of SAFE. “Pipelines are the safest and most effective method of transporting oil and natural gas across the country, and the Dakota Access pipeline improves access to our domestic oil resources. However, pipelines and increased supply alone will not insulate us from the volatility of the global oil market, or OPEC’s market manipulation—only by combining these actions with a plan to provide consumers with fuel choice options like electricity and natural gas will the U.S. achieve true energy security. We look forward to collaborating with the administration to achieve their goal of making the U.S. independent of the OPEC cartel and reducing our nation’s dependence on an oil market that is neither free nor transparent.”
Thanks to the domestic production boom, the amount of crude oil moved by pipeline in the U.S. is roughly 23 percent higher than six years ago. From 2010 through 2014, the amount of crude oil pipeline mileage in the U.S. increased sharply by 12,000 miles. The United States has also increased its imports of Canadian crude oil, which will be supplied through the Keystone XL Pipeline—Canada’s exports of crude and refined products to the U.S. have averaged 3.75 mbd in 2016, a 50 percent jump from 2010. The United States currently depends on oil to power 92 percent of its transportation system, undermining American economic and national security. The oil market has also entered a period of heightened volatility, with a 3 percent market oversupply contributing to a 50 percent collapse in oil prices, which contributed to the bankruptcies of over 140 domestic oil and gas producers.
About Securing America’s Future Energy (SAFE)
Securing America’s Future Energy (SAFE) is an action-oriented, nonpartisan organization that aims to reduce America’s dependence on oil. Near-total dependence on petroleum in the transportation sector undermines the nation’s economic and national security, and constrains U.S. foreign policy. To combat these threats, SAFE advocates for expanded domestic production of U.S. oil and gas resources, continued improvements in vehicle fuel efficiency, and transportation sector innovations including electric vehicles, natural gas trucks, and autonomous vehicles. In 2006, SAFE joined with General P.X. Kelley (Ret.), 28th Commandant of the U.S. Marine Corps, and Frederick W. Smith, Chairman, President, and CEO of FedEx Corporation, to form the Energy Security Leadership Council (ESLC), a group of business and former military leaders committed to reducing the United States’ dependence on oil. Today, the ESLC is co-chaired by Frederick W. Smith and General James T. Conway (Ret), 34th Commandant of the U.S. Marine Corps.
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