“We are working with the industry … to increase the supply of diesel … without using blunt instruments. … Nobody wants a full blanket ban or zero exports of diesel. … What's being discussed is what's the most efficient way to get more diesel into the United States.
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CW
Secretary of Energy • Colorado
Secretary of Energy since January 2025. CEO of Liberty Energy.
Statements (17)
“The blunt tool of banning diesel exports definitely doesn't work. [Wright said at an event in New York that if refiners cannot export diesel they run out of places to store it and must cut U.S. refining, which would put upward pressure on gasoline and jet fuel prices.]
“Yes, they're higher today, but we're doing everything we can to push them down. If you look at the futures prices, it's about 35 cents cheaper than it is today.
“Seeing demand likely go down in the next few weeks and supply going up, I think prices headed downward is not an unreasonable expectation.
“This is a losing game for Iran. We wish it would come to an end tomorrow. Our transit through the strait is averaging over 9 million barrels a day now, and with the access pipelines that go around the straits, we're probably two-thirds or more of pre-conflict flows. So Iranians are still causing trouble, but the United States Navy is winning that battle.
“Well, I don't want to have an opinion on that. Gasoline production is about to go up and demand is about to go down. So if I had to guess, they're more likely to go down than go up.
“Look, it's a challenge. Iran is doing everything they can to cling on to something. They know their nuclear program is coming to an end, their navy's come to an end, their air force has come to an end.
“The biggest role of our military in the region right now is to stop the export of any Iranian crude or crude-related products, natural gas, whatever.
“We are strangling their economy to try to bring either a change in policy from the existing regime or a new regime.
“The United States did no cost, zero cost to American taxpayers, but we’re going to get massive amounts of discounted oil price and ownership interest.
“Our exports of oil through the Strait of Hormuz are at the highest they’ve been since the conflict started, but they’re still causing trouble.
“There may not be a nuclear agreement. It may be simply destroying their capabilities to do it. … We are degrading their capacity to develop nuclear weapons and ultimately to deliver them, if they develop them.
“critical in starting this ball rolling of peace, opportunity, and prosperity
“Today is a transformative day.
“Several deals will be announced. Those deals will lead to a more than doubling of Venezuelan oil production in the next few years.
“The cancellations were "business decisions" about whether the projects were a good use of taxpayer money, and the projects were canceled because they did not adequately advance the nation’s energy needs.
“Prices have likely peaked and they'll start going down. Certainly with a resolution of this conflict, prices across the board on energy prices will go down.