Houston – The main officials of the energy agenda of President Donald Trump made it clear to the oil, gas and mining executives who have an ally in Washington who intends to do it as easy as possible so that they can pierce in federal land and waters.
Interior Secretary Doug Burgum told the executives for the world’s largest energy conference that Trump administration does not consider climate change as an existential threat. Energy Secretary Chris Wright said that increasing global temperatures is simply a secondary product of developing the country’s national resources to support economic growth and national security.
Burgum leads the newly established National Energy Dominance Council and Wright, who serves as a Member of the Intergency body in charge of promoting production. Burgum was effusive to praise the oil and gas industry during the statements given to Ceraweek by S&P Global Conference.
« I will share two words that I do not think you have heard a federal official in the administration of Biden for the last four years. And these two words are thanks, » said Burgum, who previously served as governor of North Dakota, a state that produces 1.2 million barrels of oil a day.
Burgum supported his experience as an executive of the software company to propose the role of the Interior Department. The department under its leadership believes that companies that develop resources in federal lands as « clients » that contribute to the « balance sheet » of the country, said Burgum.
« If someone sent me income, they were not the enemy. They were the client, » said Burgum. The administration estimates anyone who wants to harvest the wood, the mineral minerals mine, graze livestock or produce oil and gas in the federals, said the Secretary of the Interior.
Burgum said that the Royalties sent by leases to federal lands will help the United States to pay their national debt and balance the budget. « You are the client, » the Interior Secretary said to the executives.
Burgum said that the value of the abundant natural resources of the nation exceeds its $ 36 trillion. If the financial markets understood the value of the United States natural resources, the long -term long -term interest rate would be reduced, Burgum said.
« Interest rates right now is one of the most important expenses we have as a country, » said Burgum. « So one of the things we have to do is trigger the balance of America and President Trump helps us to do it, » he said.
Burgum struck the focus of Biden’s administration on climate change as « ideology ». He said that the Trump administration considers Iran to acquire a nuclear weapon and China gaining artificial intelligence race as the two existential threats that face the United States instead of global warming. Wright said Biden had a « myopic » and « almost religious » belief in reducing emissions that harm consumers.
Burgum and Wright rejected policies that support a transition from fossil fuels to renewable energy, arguing that wind and plot will not be able to meet energy demand in the coming years of artificial intelligence and reindustrialization.
« There is simply no physical way that the wind, site and batteries could replace the numerous uses of natural gas. I didn’t even mention oil or coal, » said Wright at the conference. Wright previously served as CEO of Oilfield Services Company Energy of freedom and a member of the Council at the Nuclear Startup OK, Hey.
Oil executives see allies in Washington
Oil executives are enthusiastic about the change of administrations in Washington, returning the praise they received from Trump’s energy team during the week.
Conocofillips CEO, Ryan Lance, said that Wright and Burgum « understand the business, » describing them as the best energy team that the United States have seen for decades. Total energy CEO, Patrick Pouyanné, said he was « impressed by the quality of our counterparts. » Chevron CEO, Mike Wirth, said that the industry is « seeing some reality returning to conversation. »
« For years, my message has been, we need a balanced conversation about accessibility, reliability and the environment, and focus on the climate only leads us to ignore the first two, » said Wright.
All executives referred to the Gulf of Mexico as the Gulf of America, after Trump’s executive order of renamed the body of water. The President issued an order on the first day to repeal Biden’s ban on out of the sea at 625 million hectares of the coastal waters of the United States.
BP’s CEO, Murray Auchinloss, was briefly slipped before correcting, when he discussed how the AI generates exploration helps: « We started doing this in the Gulf of Mexico, UH America, and we also extended to other nations. »
But Trump’s calls for « drilling, baby, drilling » are in the reality of the market. CHEVRON and CONOCO CEOs said that North -American Oil Production will probably be plateau in the coming years after hitting new records under Biden’s administration.
« Persecution of growth growth has not been especially successful for our industry, » said Wirth. « At some point, you have grown enough because you have to start moving towards a plateau and you have to generate more free cash flow, instead of more barrels. »
Lance sees the oil production plateau later during this decade and then slowly reduced.
« Maybe it’s time to explore the Gulf of America again, » said Pouyanné. « The new administration is opening the gulf. It has slowed down after Macondo’s drama, » he said, referring to the Deepwater Horizon oil spill, the largest in the history of marine perforation operations.
North -American oil producers are planned to meet with Trump next week, said the group of the American Petroleum Institute Petroleum industry.
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