Washington, D.C. – In response to the news of Saudi Arabia’s King Abdullah passing today at the age of 90, Robbie Diamond, President and CEO of Securing America’s Future Energy (SAFE), issued the following statement:
“It is a sign of our continued oil dependence that Americans will watch the dynamics unfold in Saudi Arabia tonight and for the weeks and months ahead. While this event may seem distant from our shores, the truth is that America’s economic fate and national interest are directly tied to the death of Saudi Arabia’s King Abdullah. As the world’s largest oil exporter and holder of almost all spare oil production capacity, political changes in Saudi Arabia could have near and long-term effects for the global oil market and the American economy as a whole.
“Today, as it has been for the past 100 years, oil remains the lifeblood of the American economy, powering 92 percent of our transportation and accounting for nearly 40 percent of our energy economy—more than any other fuel. And while the incredible surge in domestic oil production over the past five years has generated significant job growth, dramatically cut our oil import bill, and led to temporarily lower prices at the pump, the truth is that increased production here at home has not severed our linkage to the global oil market. We must continue pursing technologies and policies that can reduce our dependence on oil, diversify our transportation sector, and protect us from a global oil market that remains beyond our control.”
About Securing America’s Future Energy (SAFE)
Securing America’s Future Energy (SAFE) is a nonpartisan organization that aims to reduce America’s dependence on oil and improve U.S. energy security to bolster national security and strengthen the economy. SAFE advocates for expanded domestic production of U.S. oil and gas resources, continued improvements in fuel efficiency, and in the long-term, breaking oil’s stranglehold on the transportation sector through alternatives like natural gas for heavy-duty trucks and plug-in electric 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 U.S. oil dependence.
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