Washington, D.C.—Securing America’s Future Energy (SAFE) President and CEO Robbie Diamond released the following statement in response to the Trump administration’s decision to grant waivers to eight countries ahead of reimposing sanctions on Iran, allowing them to keep buying Iranian oil after the sanctions are reinstated on November 5.
“The decision to grant Iranian oil import waivers to eight countries is just the latest example of how America’s dependence on oil continues to restrict U.S. foreign policy options. Having to factor in oil price volatility from any disruption dilutes and reduces the impact these sanctions will have, ultimately stunting the ability of the U.S. to enact its foreign policy goals. If 92 percent of the U.S. transportation sector were not totally dependent on oil, the President would not have to consider the impact of his actions on oil prices as he makes a critical foreign policy decision. This is a perfect reminder for policymakers to address both the supply- and demand-side solutions. The fact that we must continue to weigh the oil market impact of any foreign policy option—despite U.S. oil production recently reaching historic highs—shows we need a comprehensive energy policy, which includes modernized fuel economy standards and alternative fuel vehicles, that decouples the U.S. from oil for good.”
The U.S. is the world’s largest oil consuming country, requiring 20 percent of global supply to meet its daily demand. Oil price volatility impacts all sectors of the U.S. economy, and when oil price spikes occur businesses and consumers have no alternatives available at scale. To counter this vulnerability and insulate the U.S. economy from oil price shocks, SAFE advocates for a range of policies designed to reduce the country’s dependence. These include increasing domestic production, modernizing and strengthening fuel economy standards, adoption of advanced transportation fuels including electricity and natural gas, and the expeditious deployment of autonomous vehicles.
About Securing America’s Future Energy
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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