Simultaneous observations of the equatorial proton ring current by Explorer 45 in the plasmapause region and of stable red (SAR) arcs from Fritz Peak Observatory are presented for the December 17, 1971, geomagnetic storm. We are able to obtain an estimate of the energy lost from the ring current as a function of L value by using Explorer 45 observations of pitch angle distribution transitions. These transitions have previously been explained by pitch angle diffusion driven resonant interactions with ion cyclotron waves. By separately obtaining upper- and lower-limit time estimates for the energy loss we are able to obtain a rough estimate of the energy loss rate. Estimates of the equatorial loss rate yield values larger than the required SAR arc energy input rate, and the location of the peaks in the equatorial loss rates agrees with the observed location of the arcs. This agreement leads us to the conclusion that energy loss due to the observed pitch angle distribution transitions in the equatorial ring current is sufficient to sustain the observed SAR arcs. However, the data cannot directly verify the ion cyclotron wave heating mechanism proposed by Cornwall et al. (1971), and we thus are unable to assess the relative importance of ion cyclotron turbulence and Coulomb heating in SAR arc excitation.