Houston – The officials who led President Donald Trump's energy agenda made it clear this week oil, gas and mining executives that they have an ally in Washington who makes it as easy for them to drill in federal state and water.
The Interior Minister Doug Burgum informed the managers that the managers were gathered for the world's largest energy conference that the Trump government did not consider climate change as an existential threat. Energy Minister Chris Wright said that rising global temperatures are only a by -product for the development of the country's national resources to support economic growth and national security.
Burgum heads Trump's recently set up National Energy Dominance Council and Wright serves as a deputy in the Interagency body, which is commissioned to increase production. Burgum praised the oil and gas industry during the remarks delivered by the S&P Global Conference in Cerawek.
“I will share two words that I do not believe that they have heard of a federal official in the bida administration in the past four years. And these two words are thanks,” said Burgum, who previously worked as a governor of North Dakota, a state that produces 1.2 million barrel oil a day.
Burgum was based on his experience as a software company to recognize his view of the role of the inner department. The department under his leadership looks at the companies that develop resources in federal areas as “customers” that contribute to the “balance sheet” of the country, said Burgum.
“If someone sent me income, they weren't the enemy. They were the customer,” said Burgum. The administration loves everyone who wants to harvest wood, for critical minerals, cattle will pastures or oil and gas on the path, said the Interior Minister.
Licenses sent from leasing agreements to the state will help the United States to convey their public debt and the budget, said Burgum. “You are the customer,” the interior minister told the managers.
The value of the nation's abundant natural resources far predominates the debts of 36 trillion dollars, said Burgum. If the financial markets understood the value of America's natural resources, the 10-year-old long-term interest rate would decrease, Burgum claimed.
“The interest rates are currently one of the greatest expenses we have as a country,” said Burgum. “One of the things we have to do is America's balance, and President Trump helps us to do that,” he said.
Burgum focused on the bid administration to climate change as a “ideology”. He said that the Trump government is looking at Iran that he records a nuclear weapon and China gained the artificial secret service race as the two existential threats to the USA and not as global warming. Wright said bidges had a “myopic” and “quasi religious” belief in reducing emissions that violate consumers.
Burgum and Wright meadow guidelines that support a transition from fossil fuels to renewable energies, and argues that wind and solar will not be able to meet the increasing energy demand in the coming years from artificial intelligence and rein industrialization.
“There is simply no physical way how wind, solar and batteries can replace the countless use of natural gas. I have not even mentioned oil or coal,” said Wright at the conference. Wright was previously used CEO of the Oilfield Services Company Liberty energy and a board member at Nuclear Startup Ok Hey.
Oil managers see allies in Washington
Oil managers are enthusiastic about the change in the administrations in Washington and reply the praise they received from Trump's energy team during the week.
Conocophillips CEO Ryan Lance said Wright and Burgum understood the business and described it as the best energy team that the United States had seen for decades. Total energy CEO Patrick Pouyanné said he was “impressed by the quality of our colleagues”. Chevron CEO Mike Wirth said that the industry was “seeing how some reality returns to the conversation”.
“For years my message has been that we need a balanced conversation about affordability, reliability and the environment. If we only concentrate on the climate, we ignore the first two,” said Wright.
The managers all called the Gulf of Mexico as the Gulf of America after Trump's executive order to rename the water. On his first day, the President placed an order to lift bidens ban on offshore drilling in 625 million morning US coastal waters.
The BP CEO Murray also slipped briefly before corrected when it discussed how generative AI helps with research: “We have started doing this in the Gulf of Mexico, UH America, and we spread this to other nations.”
But Trump's calls to “Drill, Baby, Drill” races against the market room. The CEOs of Chevron and Conoco said that the US oil production would probably be a plateau in the coming years after the occurrence of new records in the context of the bid administration.
“The persecution of growth after growth has not proven to be particularly successful for our industry,” said Wirth. “At some point they grown so that they should move towards a plateau, and they should generate more free cash flow than just barrels.”
Lance later looks at the US oil production this decade and then slowly.
“Maybe it's time to explore America's golf again,” said Pouyanné. “The new administration opens the Golf. It was slowed down according to the Macondo drama,” he said, moving the oil spest for Deepwater Horizon, the largest in the history of the marine drilling processes.
US oil producers should meet Trump next week, the American Petroleum institutes said in explanation.