Wright says Hormuz strikes haven't disrupted flows, Gulf exports are rising, and Iran, which hasn't shipped since July, will eventually have to make a deal.
Iran hasn't shipped anything since July, and of course that's choking their economy. They are increasingly disappointed. They see no way out, but eventually they will have to make a deal.
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Wright argues that high energy prices themselves will spur greater supply, and that the administration is working with producers to restart closed refineries and expand operations.
Prices are high. The best cure for high prices is high prices, it grows supply.
Wright predicts gasoline and diesel prices peaked in September and will keep falling meaningfully in the coming months.
Gasoline and diesel prices peaked in September, they're on their way down, and they will continue down meaningfully in the months ahead.
Energy Secretary Chris Wright acknowledged prices are high but argued high prices are the best remedy because they spur greater supply.
“Prices are high. The best cure for high prices is high prices,” Wright said Tuesday on Fox Business. “It grows supply."
Wright says US natural gas output exceeds the next three producers combined, prices are flat year on year, and gas is now America's largest energy source, ensuring affordable supply for generations.
We produce more than the next three largest producing countries combined. Natural gas prices today are the same as they were 12 months ago, since the beginning of the Trump administration. It is also the largest source of energy in America.
Wright predicts gasoline and diesel prices peaked in September and will fall significantly as supply rises from the Gulf, India and the US.
The best cure for high prices is high prices. This increases supply. So, the supply is increasing. Gasoline and diesel prices peaked in September. They are on the decline and will drop significantly in the coming months