Date: December 13, 2006
Source: Waste Management, Inc.
David Steiner, Waste Management CEO, Joins CEOs and Military Experts to Unveil a National Strategy to Address Dangers of U.S. Oil Dependence
Recommendations include strengthened fuel efficiency standards, increased oil production, alternative fuels, trade and defense measures
Waste Management, Inc. (NYSE: WMI) today announced that CEO David Steiner, a member of the Energy Security Leadership Council (the Council), has joined other top business leaders and retired senior military officers in launching an aggressive push for Government action to address the dangers of U.S. oil dependence. The Council, co-chaired by FedEx Chairman, President and CEO Fred Smith and retired Marine Commandant P.X. Kelly, has released a landmark set of recommendations calling for fundamental changes in U.S. policy concerning oil consumption and production.
The bipartisan Council, a project of Securing America's Future Energy (SAFE), proposes a far-reaching effort to reduce significantly the oil intensity of the U.S. economy by 2030. The Council will formally present the plan to Congressional leaders and White House officials and pledged to continue working until the recommendations become law.
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.
"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 plan is contained in a detailed report, Recommendations to the Nation on Reducing Oil Dependence, which is available at www.secureenergy.org.
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Our subsidiaries provide collection, transfer, recycling and resource recovery, and disposal services. We are also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. Our customers include residential, commercial, industrial and municipal customers throughout North America. Ways in which Waste Management helps Think Green® can be found at www.wm.com.