Kerry Statement Today on Energy Dependence

"President Bush's meeting today with Saudi Crown Prince Abdullah is a stark reminder of our country's dangerous dependence on foreign oil, and how much that dependence threatens our national security.

"America is growing more - not less - dependant on foreign oil, and our dependence on foreign oil is shortchanging our goals in the war on terror. Even if oil miraculously drops to $30 a barrel, over the next 25 years the U.S. will send over 3 trillion American dollars out of the country, much of it to regimes that don't share our values. In the past Hamas received almost half of its funding from Saudi Arabia. We know al Qaeda has relied on prominent Saudis for financing. And Saudi Arabia sponsors clerics who promote the ideology of terror.

"We can no longer allow America's dependence on foreign oil to compromise our energy security. Instead, we must invest in inventing new ways to power our cars and our economy. I'll put my faith in American science and ingenuity any day before I depend on Saudi Arabia.

"The administration's energy policy works for Saudi Arabia, it works for big oil and gas companies, but it doesn't work for the American people. The president's energy bill, by his own admission, does nothing to lower gas prices; will increase oil imports by 85% by 2025; and 95% of the tax benefits in the package - over $8 billion - go directly into the pockets of big oil and gas companies.

"Jawboning OPEC nations to increase production is short-term solution to a long-running problem. We need to invest in America's energy future - not Saudi Arabia's - and the only way to do that is to reduce our dependence on foreign oil."