President-elect Donald Trump announced Chris Wright, CEO of Liberty Energy, as his pick for energy secretary. Liberty Energy, an oilfield services company with a $2.7 billion market capitalization, saw a brief stock surge after Trump’s election victory. Wright, who also sits on the board of nuclear startup Oklo, will serve on Trump’s Council of National Energy, led by Interior Secretary nominee Doug Burgum.
Wright has denied the existence of a global climate crisis, rejecting calls for transitioning away from fossil fuels. In a video posted last year, Wright dismissed the term “carbon pollution” and argued all energy sources carry both positive and negative impacts. Trump praised Wright as a leading technologist who helped pioneer the shale revolution, citing its role in boosting U.S. energy independence.
While Trump aims to increase fossil fuel production to lower energy costs, experts note the president’s limited influence on oil and gas output. The U.S. has led global crude oil production since 2018, surpassing Russia and Saudi Arabia.
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