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Wright to Varney: Congress Reopened Alaska Leasing; Administration Will Not Let Snake River Dams Come Down

December 5, 2025 · U.S. Department of Energy · 0:04:32

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

What happened

Energy Secretary Chris Wright, asked by Stuart Varney about Congress repealing a Biden-era rule that limited land leasable for oil and gas development in the Alaska wildlife refuge — opening drilling on more than a million acres — said the United States does need that oil: more supply means more exports to allies and lower gasoline, diesel, and jet fuel prices, according to Wright.

Wright said the best producers can profit even around $50 a barrel on the best lands, and that leasing today is development years from now — about what prices will be several years or decades down the road, in a region called the National Petroleum Reserve for a reason, according to the interview. He called a roughly $5.41–$5.60 natural gas price a short-term move that still equals about 75 cents a gallon in energy terms, keeping gas the cheapest and fastest-growing resource and prompting more drilling, according to Wright.

Speaking from the Columbia River, Wright said the Biden administration made an agreement with environmental groups ultimately to pull down four large Snake River hydro dams — three gigawatts of firm, reliable generation — and that the Trump administration will not allow the dams’ removal, the closing of coal plants, or the other steps he said drove electricity prices up, according to Wright. He said officials were visiting the dam, the Army Corps of Engineers, and the Bonneville Power Administration to assure them the dams stay open and should gain capacity, according to the interview.

Why it matters

The segment pairs two dated administration positions — restored Alaska refuge leasing and a no-removal pledge for the Snake River dams — with the secretary’s price reasoning for each.

Sources: U.S. Department of Energy, “Secretary Wright Joins Stuart Varney on Fox Business - December 5, 2025”, 2025-12-05 (official upload, embedded above; published 2025-12-05). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.