Waste Management CEO backs strategy to reduce dependence on foreign oil

David Steiner, CEO of Houston-based Waste Management and a member of the Energy Security Leadership Council, has added his voice to those of other business leaders and retired military experts in demanding that the U.S. government address its reliance on foreign oil. The council, which is co-chaired by FedEx Chairman, President and CEO Fred Smith and retired Marine Commandant P.X. Kelly, today released a set of recommendations meant to address U.S. policy as it pertains to oil consumption and production.

The bipartisan council, part of Securing America's Future Energy (SAFE), proposes several steps to cut U.S. oil imports by 2030. Major policy initiatives backed by the Council include:

- Significantly reforming and strengthening vehicle fuel efficiency standards.

- Funding substantial financial incentives for the domestic production and purchase of highly fuel-efficient vehicles.

- Growing the supply and demand sides of the biofuels market.

- Increasing access to U.S. oil and natural gas reserves on the Outer Continental Shelf (OCS) with sharply increased and expanded environmental protections.

"It's imperative that the United States develop a truly comprehensive strategy to reduce U.S. oil dependence because it threatens our economic and national security," said Steiner. “At Waste Management, we are both a large energy consumer – having a fleet of 22,000 trucks – and a renewable energy producer – our renewable energy projects produce enough green energy to power more than one million homes. I look forward to working with the Council and policymakers in Washington to see the Council's recommendations to enactment."

The Council's complete report, titled “Recommendations to the Nation on Reducing Oil Dependence,” is available at www.secureenergy.org.