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Jeffrey C. Sprecher, founder, Chief Executive Officer, and Chairman of IntercontinentalExchange (NYSE: ICE), has joined the Energy Security Leadership Council (Council), a project of Securing America’s Future Energy (SAFE).
The Council is an intensive effort by 17 business leaders and retired senior military officers to build support for a comprehensive, long-term policy to reduce the oil dependence that threatens the nation’s economic and national security. The Council has issued a detailed report, Recommendations to the Nation on Reducing Oil Dependence, and has launched an intensive advocacy campaign to enact bipartisan legislation.
The public companies represented on the Council generate $126 billion in annual revenue and employ approximately 460,000 people. The retired senior military officers who participated possess a combined 208 years of experience in uniform. A complete list of Council members follows this release.
ICE operates the leading global, electronic marketplace for trading both futures and OTC energy contracts, as well as the leading exchange for soft commodities such as sugar and cotton. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. ICE’s electronic trading platform provides rapid trade execution and is one of the world's most flexible, efficient and secure commodity trading systems.
“Jeff Sprecher provides the Council with real insight into global energy markets. The members of the Council deeply appreciate Mr. Sprecher’s support for our recommendations and look forward to working with him to achieve enactment of a comprehensive approach to reducing U.S. oil dependence,” remarked Council Co-Chair General P.X. Kelley (Ret.), 28th Commandant of the United States Marine Corps.
“The Council will benefit from Jeff Sprecher’s detailed understanding of the profound economic risks posed by our nation’s oil dependence. In our conversations with members of Congress and administration officials, he will serve as a valuable and respected voice on the issue of energy security,” commented Robbie Diamond, President of Securing America’s Future Energy (SAFE).
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; and increasing access to U.S. oil and natural gas reserves on the Outer Continental Shelf (OCS) with sharply increased and expanded environmental protections. The Council’s complete plan is available at www.secureenergy.org.
“The Council has undertaken a crucial mission in calling on policy makers to address our country’s oil dependence, and I appreciate the opportunity to serve as a member of the Council.
“The long-term global trends of tight supply, rising demand, geopolitical instability, and low spare capacity require that the United States act quickly and comprehensively to mitigate serious economic risks. The Council has offered precisely the right set of solutions to an urgent and complex problem,” said Mr. Sprecher.
SAFE is a nonpartisan, not-for-profit organization committed to reducing America’s dependence on oil and improving U.S. energy security to bolster national security and strengthen the economy.
