28 Feb '12, 6pm

At ARPA-E Summit, FedEx CEO Smith Sounds an Optimistic Note: “Pound for pound, dollar for dollar, activity for...

At ARPA-E Summit, FedEx CEO Smith Sounds an Optimistic Note: “Pound for pound, dollar for dollar, activity for...

“Pound for pound, dollar for dollar, activity for activity, it is hard to find a thing the United States has done that is more effective than ARPA-E,” said FedEx Chairman and CEO Fred Smith at the 2012 ARPA-E Energy Innovation Summit. In an optimistic, forward-looking address, Smith spoke passionately about the strategic and economic importance of America weaning itself off foreign oil. “We burn about 19 billion barrels of oil per day. About 50 to 60 percent of that is imported. Some of that comes from friendly locations. But 90 percent of proven worldwide reserves are owned … by governments that do not share the same values as the United States,” said Smith. “We at FedEx have long believed that … our dependence on imported petroleum constitutes the country’s largest security and economic risk.” For much of his address, Smith preached to the ARPA-E choir, reciting well-kno...

Full article: http://www.greentechmedia.com/articles/read/at-arpa-e-sum...

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