HOUSTON – Officials who led the energy agenda of President Donald Trump have clearly clarified the heads of oil, gas and mining that they have a Allies in Washington who intends to facilitate drilling in federal countries and waters.
Interior Secretary Doug Burgum told the managers gathered for the world’s largest energy conference that Trump administration of climate change does not consider the existential threat. Energy secretary Chris Wright said that increasing global temperatures are simply a by -product of the development of national resources to support economic growth and national security.
Burgum runs Trump’s recently established National Energy Domination Council, and Wright serves as its deputy in the intervening body in charge of strengthening production. Burgum was ripped in praise of oil and gas industries during the remarks provided by S&P Global Conference in Ceraweek.
“I will share two words that I think you have heard from the federal official in the Administration of Biden over the last four years. And those two words thank you,” said Burgum, who was previously governor of North Dakota, a state that produces 1.2 million barrels of oil daily.
Burgum leaned against his experience of the M The department under his leadership believes that companies develop resources on federal land as “customers” who contribute to revenue to the state “balance sheet,” Burgum said.
“If someone sent me an income, they were not an enemy. They were a buyer,” Burgum said. The administration loves anyone who wants to collect wood, a minute for critical minerals, grazing cattle or produce oil and gas on the federals, said the internal secretary.
Royalties sent from a lease agreement on the federal land will help the USA to pay their national debt and balance the budget, Burgum said. “You are a customer,” the secretary of the interior said to the managers.
The value of abundant natural resources of the nation far outweighs $ 36 billion dollars, Burgum said. If the financial markets understood the value of American natural resources, a 10 -year long -term interest rate would collapse, Burgum claimed.
“Interest rates are currently one of the biggest costs we have as a country,” Burgum said. “So one of the things we have to do is free the American balance sheet, and President Trump helps us to do it,” he said.
Burgum focused on the focus of the biden administration on climate change as a “ideology”. He said that Trump’s administration believed that Iran had acquired nuclear weapons and China that won the artificial intelligence race as two existential threats that the US faces, not global warming. Wright said Biden has “myopic” and “quasi religious” belief in reducing emissions that damages consumers.
Burgum and Wright rejected policies that support the transition from fossil fuels to renewable energy, claiming that wind and solar will not be able to meet the growing energy demand in the coming years from artificial intelligence and re -industrialization.
“There is simply no physical way that wind, solar and batteries can replace countless use of natural gas. I haven’t even mentioned oil or coal yet,” Wright said at a conference. Wright was previously the CEO of Oilfield Services Company The energy of freedom and a member of the administration in the nuclear startup Okla.
Oil executors see allies in Washington
Oil executives are delighted with changing the administration in Washington, returning the praise they received from the Trump Energy team during the week.
Conocophillips Executive director Ryan Lance said that Wright and Burgum “understand the job”, describing them as the best energy team they have now seen in decades. Totaleengies Executive director Patrick Pouyanné said he was “impressed with the quality of our colleagues.” Shevron Executive director Mike Wirth said the industry “sees some reality back to conversation.”
“For years, my message has been, we need a balanced conversation about accessibility, reliability and environment, and focusing on the climate only brings us to neglect the first two,” Wright said.
All executives called the Gulf of Mexican as the US Bay, following Trump’s executive order to rename the body of water. On the first day, the President issued an order for the abolition of Biden’s drilling prohibition at sea in 625 million hectares of US coastal waters.
Executive director of the BP Murray Auchincloss briefly slipped before he corrected himself when discussing how the generative AI helps in research: “We started doing it in the Bay of Mexico, UH America, and we expanded that to other nations.”
But Trump calls for “drilling, baby, drill” run against a market reality. Chevron and Conoco Directors said US oil production was likely to hit new records under the management of Biden in the coming years.
“The persecution of growth for growth has not proven to be particularly successful for our industry,” Wirth said. “You have grown enough at some point that you should move towards the plateau and you should generate more free cash flow, not just more barrels.”
Lance sees an American plan for oil production later this decade, then slowly declining.
“Maybe it’s time to get back to the American Bay research,” Pouyanné said. “The new administration opens the bay. She slowed down after the Macondo drama,” he said, referring to the pouring of oil of the Deepwater Horizon, the largest in the history of the drilling sea surgery.
US oil producers should meet with Trump next week, according to a statement by American Lobby Group Group Group.
