Securing America's Future Energy

Attack on Saudi Oil Facilities Highlights Crude’s Volatility

Contact: Alex Adams | 202.461.2374 |
Washington, D.C–In response to reports of coordinated drone strikes on Saudi Arabian oil facilities that forced the kingdom to shut down half its production on Saturday, Securing America’s Future Energy (SAFE) President and CEO Robbie Diamond made the following statement:
“This attack is yet another wake-up call to the United States that a disruption in supply anywhere in the world impacts prices everywhere. We must not let our current high domestic production cause complacency in our energy policymaking. We must enact policies that bolster electric and other alternative fuel vehicles and related infrastructure. Our national and economic security depend on us reducing our dependence on oil.”
The attacks targeted Saudi Arabia’s Abqaiq facility, the world’s largest crude processing plant, causing Saudi Aramco to cut production by as much as 5 million barrels per day (Mbd) as a precautionary measure. Additionally, SAFE modeled an attack on Abqaiq in its Oil Shockwave simulation in 2011, a project involving business and military leaders which assessed the energy security repercussions of such a strike. The exercise ultimately concluded that reducing the oil intensity of the U.S. economy should be an economic and national security priority.
“These strikes targeted the heart of the kingdom’s oil infrastructure and will without doubt further stoke tensions in an already unstable region, raising geopolitical risk and fueling concerns over prices,” Diamond added.
The United States is the world’s largest oil consumer, accounting for one-fifth of daily global supply, 70 percent of which is used to power a transportation system that is 92 percent dependent on oil. SAFE advocates for a comprehensive solution to reduce our dependence on oil as an economic and national security priority. This includes supply-side policies to maximize domestic production, as well as long-term demand-side measures which include modernized fuel economy standards and greater fuel choice.

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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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