Although U.S.-Saudi bilateral ties are on the mend, ambiguities and the transactional nature of the 1945 oil-for-security covenant contribute to mistrust and tensions. The burden of fixing or stabilizing the relationship is a shared responsibility. It’s time for Washington and Riyadh to reconfigure their security ties in accordance with new U.S. geopolitical priorities and new Saudi defense requirements. This report lays out such a process.