Securing America's Future Energy's (SAFE) today restated the importance of a U.S. strategy to boost energy security. OPEC decided Wednesday not to raise output quotas to stem rising prices for oil, rebuffing appeals from oil-consuming nations. OPEC's 13 oil ministers made the decision at a regular meeting in Vienna, Austria.

"Even beyond the ranks of OPEC, the 21st-century oil market is far removed from the free-market ideal, with as much as 90 percent of all oil and natural gas reserves being held by national oil companies that are either partially or fully controlled by governments," said Robbie Diamond, SAFE's founder and president. "The global supply of oil is shaped by collusive practices that would be considered illegal under U.S. law.

"Given these realities, Americans must accept that market forces alone will not solve our oil problems. Instead, government must spur and, in some cases, require private-sector responses. In light of the market failures associated with oil, government intervention is not merely desirable – it is essential."

Early this year, crude oil rose above $100 for the first time ever, amidst factors including Venezuela's decision to cut-off oil exports to Exxon Mobil and a weakening U.S. dollar.