Washington, D.C.—In response to reports to Mohammed bin Salman’s rise to crown prince, Securing America’s Future Energy (SAFE) President and CEO Robbie Diamond released the following statement:
“Today’s news reminds us that, as the world’s largest oil consuming country, our economic sovereignty hinges on the decisions and actions of countries that lack transparency and democratic norms, and control an unfree and volatile global oil market. Saudi Arabia is asserting an aggressive strategy to reduce its oil dependence—they know it’s in their best interests, so why can’t we do the same? Technology and national will create the perfect opportunity to end our oil dependence and provide fuel choice to consumers.”
The United States is the world’s largest oil consuming country, requiring 20 percent of global supply to meet its daily demand. This oil dependence is particularly relevant in the transportation sector, which is 92 percent powered by oil, and when oil prices spike businesses and consumers have no alternatives available at scale.
To mitigate the impact of oil price volatility in the long-term, 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 (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 the advancement of alternative fuels in the transportation sector including electric vehicles and natural gas trucks. 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.
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