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Secretary Chris Wright Discusses White House Meeting With Oil and Gas Executives

March 20, 2025 · U.S. Department of Energy · 0:09:49

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

Fox News noted President Trump met with oil and gas executives at the White House that day, with Energy Secretary Chris Wright in the meeting. Wright said the first thing he learned was that it was the first time in over four years anyone in the oil and gas industry had even been in the White House — they were persona non grata before, he said. What the executives were looking for, he said, was a business climate in which they can invest and keep growing American oil and natural gas production to drive domestic prices down, with ever-growing exports helping the economy, allies, and the balance of trade, according to the interview.

Bret Baier noted oil prices dropping — about $67, a 14% decrease from January 17 to March — and gas prices down from $3.49 a year earlier, and asked whether lower prices are incompatible with increased production and what price Wright was looking for. Wright said that in the long, constructive dialogue, oil prices were never discussed, because prices are set by supply and demand for both oil and natural gas — nobody decides them. If production is made harder through obstructions and investment risk, as he said the last administration did, you necessarily get less supply without changing demand, and therefore higher prices, he argued, adding that prices had already moved down because the marketplace sees it will be a lot easier to produce oil and gas in the United States, with investment in pipelines and export infrastructure to come, according to Wright.

Why it matters

The interview records the reset of the White House’s relationship with the oil and gas industry at the start of the term — access restored, and the industry’s stated ask defined as investment climate rather than price support.

Sources: U.S. Department of Energy, “Secretary Wright joins Fox News’s Bret Baier - March 19th, 2025”, 2025-03-20 (official upload, embedded above; published 2025-03-20). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.