The Obama administration’s move to ban offshore drilling in parts of the Arctic and Atlantic oceans undermines critical efforts to strengthen the nation’s energy security and insulate the economy from the negative impacts of global oil price volatility.
“At a time when we should be seeking to improve our nation’s energy security by increasing domestic energy production, this decision represents a significant step backwards in achieving this goal. This ban takes one weapon in our arsenal off the table against the chicanery of the OPEC cartel, which has just cut supply to raise oil prices—hurting U.S. businesses and consumers as a result,” said Robbie Diamond, President and CEO of Securing America’s Future Energy (SAFE).
Technological advances and rigorous requirements also ensures that drilling in the U.S. produces oil in accordance with some of the strictest, most comprehensive environmental and safety regulations in the world.
“Federal regulations should support responsible drilling in both the Arctic and Atlantic as we seek to protect the U.S. economy from the crippling effects of OPEC-driven oil price volatility,” Diamond continued. “Placing limits on domestic production hinders any comprehensive strategy to reduce America’s dependence on oil, a strategy which includes increased fuel efficiency standards and a more diverse choice of fuels.”
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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