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Is America’s Waning Oil Dependency A Saudi Concern?

September 12, 2014

by Dan Eberhart

Chris Faulkner, Jim Krane, Saudi Arabia oil, Saudi oil exports, US oil imports, US Saudi relations, US shale

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Roosevelt and Abdulaziz met back in 1945.

On February 14, 1945, US President Franklin D. Roosevelt met King Abdulaziz of Saudi Arabia onboard the US Navy cruiser USS Quincy in the Great Bitter Lake segment of the Suez Canal. This first face-to-face encounter between top American and Saudi leaders served as the foundation for the longstanding relationship between Washington and Riyadh.

In the nearly 70 years since that historic meeting, the two nations have worked together on a number of bilateral and regional issues, including recent concerns about the crisis in Syria, nuclear proliferation in Iran, counterterrorism, and Middle East peace. Bilateral trade between the US and Saudi Arabia is enormous, with US exports to the Kingdom exceeding $35 billion in 2013. These include direct exports of $19 billion, a 76% increase since 2009.

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About the Author

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Chris Faulkner is the Chief Executive Officer, President, and Chairman of Breitling Energy Corp., an oil and natural gas company based in Dallas. He is the author of The Fracking Truth—America’s Energy Revolution: The Inside, Untold Story, and he is the producer of the fracking documentary, Breaking Free. Faulkner was named Industry Leader of the Year in 2013 by the Oil & Gas Awards for the Southwest Region, Oil Executive of the Year in 2013 by the American Energy Research Group, and he was recognized in the Dallas Business Journal’s “40 Under 40” in 2014 as well as “Dallas Who’s Who in Energy” in 2012 and 2013.
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Jim Krane is the Wallace S. Wilson Fellow for Energy Studies at Rice University’s Baker Institute. His research addresses the geopolitical aspects of energy with a focus on the Middle East. He is the author of the 2009 book, City of Gold: Dubai and the Dream of Capitalism. A longtime journalist, Krane reported from the Middle East for more than five years and is the winner of several journalism awards.
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Dan K. Eberhart

Dan Eberhart has been the Chief Executive Officer of Canary since 2009. Under his leadership, Canary has grown into one of the largest privately held oilfield services companies in the U.S. Prior to his role at Canary, Eberhart was Vice President of Acquisitions for Greene’s Energy, LLC in Houston, TX. Eberhart graduated cum laude from Vanderbilt University with degrees in Economics and Political Science, and earned a juris doctorate and certificate in European Legal Studies from Tulane University. A strong believer in the local community, Eberhart has helped Canary donate over $500,000 to the communities in which the company operates.