Trump administration message to the oil and gas industry: “You are a client”

Houston – this week, officials conducted by President Donald Trump’s energy program made it clear to the heads of oil, gas and mining that they have an ally in Washington, which intends to make it as simple as possible for federal lands and waters.

The Secretary of Internal Affairs Burgum Doug told the leaders at the largest energy conference in the world that the Trump administration does not consider climate change as an existential threat. Energy Secretary Chris Wright said the rise in global temperature is just a by -product of the country’s national resources to support economic growth and national security.

Burgum heads the recently created National Council of Trump, and Wright is acting his deputy in the interagency body, which instructed to increase production. Burgum was sophisticated in the oil and gas industry during the comments that performed at Ceraweek on the S&P Global Conference.

“I am going to share two words that I don’t think you have heard from a federal official in the Biden Administration in the last four years. And these two words thank you,” said Burgum, who previously held the position of Northern Dakota Governor, a state that produces 1.2 million barrels a day.

Burgum leaned toward his experience as head of the software to put her view on the role of the Interior Department. The Department under his leadership is considering companies that develop resources on federal lands as “customers” who make profit in the “balance in the country”, Burgum said.

“When someone sent me a profit, they were not an enemy. They were customers,” Burgum said. The administration loves everyone who wants to collect the wood, to shake the critical minerals, to feed a cattle or produce oil and gas on the federals, the Interior Minister said.

The fees sent from the Federal Land Agreement will help the US pay its public debt and balance the budget, Burgum said. “You’re a client,” the secretary secretary told the heads.

The value of rich natural resources of the country far exceeds $ 36 trillion, Burgum said. When the financial markets understand the value of America’s natural resources, a 10-year long-term interest rate will decrease, Burgum said.

“Now interest rates are one of the biggest costs we have as a country,” Burgum said. “So, one of the things we have to do is solve the balance of America, and President Trump helps us do it,” he said.

Burgum struck Biden’s administration on climate change as “ideology”. He said the Trump administration is considering Iran by buying nuclear weapons, and China will win the artificial intelligence race as two existential threats facing the United States rather than global warming. Wright said Biden had a “myopic” and “quasi religious” belief in the reduction of emissions that harm consumers.

Burgum and Wright have rejected politics that support the transition from fossil fuels to renewable energy sources, claiming that the wind and solar energy will not be able to meet the growth of energy demand in the coming years from artificial intelligence and repeated industry.

“There is simply no physical way that the wind, solar and batteries can replace many natural gases. I didn’t even mention the oil and coal,” Wright said at the conference. Wright previously held the post of CEO Freedom energy and a board member at a nuclear launch Okay, hey.

Conocophillips CEO Ryan Lance said Wright and Burgum “understand business”, describing them as the best energy team that the US has seen over the decades. Total energy Director -General Patrick Spain said that “impressed with the quality of our colleagues.” Chevron CEO Mike Virtual said the industry “see how some reality is returning to the conversation.”

“For many years, my message has been, we needed a balanced conversation, reliability and the environment, and focus only on the climate makes us ignore the first two,” Wright said.

All executives called the Gulf of Mexican as a bay of America after Trump’s executive order to rename the water. The President issued an order on his first day to lift Biden’s ban on sea drilling in 625 million hectares of coastal waters.

BP CEO Murray Auhinklos briefly slipped before correcting ourselves, discussing how generative II helps in the intelligence: “We started doing it in the Mexican Gulf, and in America, and we spread it to other nations.”

But Trump’s calls for “Dib, Child, Drill” will resist the reality of the market. CEOS Chevron and Conoco stated that oil production in the United States is probably in the coming years after hitting the new Biden administration.

“Pursuit of growth for the sake of growth was not particularly successful for our industry,” Virta said. “At some point you have grown enough that you should start moving to the plateau and you have to create a more free cash flow, not just more barrels.”

Lance sees that in the US the plateau oil production at the end of this decade, and then slowly declining.

“It may be time to return to the study of America Gulf,” Puyana said. “The new administration opens the Bay. After the Macondo drama, it slowed down,” he said, citing oil spill Deepwater Horizon, the largest in the history of marine drilling operations.

The US is scheduled to meet with Trump next week, according to a statement by the American Institute of Petroleum Institute of the American Oil Institute.