SAFE Applauds Movement Toward Energy Compromise

WASHINGTON, July 9 /PRNewswire-USNewswire/ — Securing America’s Future Energy (SAFE) and the Energy Security Leadership Council (ESLC) today applauded Senate Democrats for indicating their willingness to work with Republicans on a compromise energy package that would include increased access to domestic oil and natural gas.

“While it is early, this week’s announcement by key Democrats that they would be willing to consider a compromise package that includes increased domestic production of oil and natural gas is an important step forward,” SAFE President and CEO Robbie Diamond said. “Democrats are absolutely right when they say we cannot drill our way out of our energy problems, and Republicans are equally right when they say increased domestic production is an important part of the solution. Now they need to come together and craft a package that includes not only domestic production, but also measures to reduce demand and increase funding for the new technologies and sources of energy that will eventually play the greatest role in reducing our dependence on oil.”

Senate Majority Leader Harry Reid (D-Nev.) opened a Tuesday news conference by saying, “Let’s begin the discussion here by saying, Democrats support domestic production.” Majority Whip Dick Durbin (D-Ill.) said that he was “open to drilling and responsible production.” Their announcement came on the heels of a letter by 10 senators of both parties to the Senate leadership recommending a bipartisan energy summit to examine all possible solutions to the nation’s energy problems, including “enhanced conservation and increased domestic fuel production.”

In 2007, the $300 billion the U.S. paid for imported oil represented 41 percent of the total U.S. trade deficit. If increased domestic production had offset 1 million barrels per day of imports, it would have reduced America’s import costs by $26.4 billion.

“Increased domestic supply is not the sole answer to our energy security problems,” ESLC Co-chairs Frederick W. Smith–Chairman, President and CEO of FedEx Corporation–and General P.X. Kelley (Ret.)–28th Commandant of the U.S. Marine Corps–said. “But it is an important part of a comprehensive strategy that includes reduced demand, increased production and deployment of effective alternatives to improve our nation’s energy security. Democrats and Republicans together took an important first step last year. Now it is time for the two parties to continue working collaboratively to address this transcendent challenge.”

Securing America’s Future Energy (SAFE) is an action-oriented, 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.

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Robbie Diamond

http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=75153

Securing America’s Future Energy

CONTACT: Jonathan Grella of SAFE, +1-202-461-2369

Web Site: http://www.secureenergy.org/