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Trump energy pick signals new direction

By Taylor Millard - InsideSources.com | Nov 26, 2024

Energy groups and advocates described President-elect Donald Trump’s selection of Liberty Energy CEO Chris Wright as energy secretary as a return to normalcy for an agency that, under the Biden administration, has been more of an obstacle than an ally.

“There’s nobody more qualified, intelligent, passionate and also deeply caring about people and the consumer, and understands both the complexities of energy and cost to consumers,” said energy consultant Trisha Curtis of PetroNerds.

A self-described tech nerd, Wright entered the energy industry by founding Pinnacle Technologies. The company pioneered hydraulic fracture mapping that revolutionized shale gas production. In 2010, he founded Liberty Energy, now valued at more than $2.8 billion. Trump called Wright an energy pioneer whose work in shale “fueled American energy independence.”

Wright isn’t the first energy executive to lead the Energy Department. That was Samuel Bodman, who was Cabot Corp. CEO in the 1980s.

Craig Stevens, partner at DCI Group and a former senior adviser to Bodman, said Wright and Bodman share a similar philosophy, embracing the “all of the above” energy approach.

“(They see) we have tremendous untapped energy resources in the U.S. that we should be able to develop and deploy to help grow our economy, create jobs, and support our allies,” Stevens said.

“What’s also important is that these men both recognize that they were not elected, but that they serve at the pleasure of the president,” Stevens added. “Having a cohesive energy strategy, that is driven from Trump’s stated goal of establishing U.S. energy dominance will help create the technical and regulatory pathways for increased energy production to combat energy poverty and support economic growth around the world.”

American Petroleum Institute president and CEO Mike Sommers said Wright’s experience as an energy CEO gives him a perspective typically not seen within the Department of Energy.

“We look forward to working with him, once confirmed, to bolster American geopolitical strength by lifting DOE’s pause on LNG export permits and ensuring the open access of American energy for our allies around the world,” Sommers said.

Trump made energy development a vital plank in his campaign platform. He hammered Vice President Kamala Harris for endorsing a fracking ban and supporting the Green New Deal in 2019.

Like his future boss, Wright isn’t shy about expressing his views.

Two years ago, Wright purchased billboards in Denver criticizing The North Face for refusing to do business with energy companies despite using synthetic oil-derived materials. “That North Face puffer looks great on you. And it was made from fossil fuels,” the billboards read.

Wright also criticized the Biden administration and other governments for setting unrealistic climate goals and demonizing fossil fuels. He called the Net Zero 2050 campaign “unachievable and, frankly, unadvisable” due to its cost and reliance on unreliable technology.

Environmentalists aren’t happy.

Greenpeace USA Deputy Climate Program Director John Noel likened Wright’s nomination to “putting a pyromaniac in charge of the fire department.” He suggested the appointment was part of a disturbing trend of oil and gas executives being nominated for critical government roles.

“This pattern not only threatens to derail the urgent transition to a clean energy future, prioritizing fossil fuel profits over the health and well-being of Americans,” Noel said.

Although portrayed as a climate change skeptic, Wright acknowledged last year the Earth was getting warmer and that sea levels were rising. “Since the end of World War II, human burning of fossil fuels has increased atmospheric CO2 concentration by about 50 percent,” he said.

However, Wright argued that the danger of climate change through energy consumption was “clearly overwhelmed” by its benefits to the human race through increased life expectancy, wealth and health.

He’s also advocated for politicians and advocates to stop using phrases like “climate crisis,” “dirty energy” and “clean energy,” and suggested they cause regulators to oppose the construction of pipelines and liquid natural gas export terminals. Wright argued that such terms create unnecessary anxiety in children and distract them from practical, solvable problems.

“The only thing resembling a crisis with respect to climate change is the regressive, opportunity squelching policies justified in the name of ‘climate change,'” Wright said.

He thinks the green energy push resulted in higher prices, destabilized grids and displaced high-paying jobs.

Curtis defended Wright’s comments by pointing toward Germany. The European country has experienced energy price shocks as it pivoted from nuclear and fossil fuels to renewables. “(Americans) don’t want to be that,” she said.

Stevens, now a spokesman for Grow America’s Infrastructure Now, a coalition that wants to protect U.S. energy security, lauded Wright as the perfect person for energy secretary. He said Wright would reduce regulations and unnecessary delays in critical energy projects.

“Having a cohesive energy strategy … will help create the technical and regulatory pathways for increased energy production to combat energy poverty and support economic growth around the world.”

Taylor Millard writes about politics and public policy for InsideSources.com.