
X/Energy Secretary Chris Wright
Energy Secretary Chris Wright said Sunday on CBS News that ending the Iran war would “dramatically lower energy prices” — while admitting that President Donald Trump knew the risks on fuel markets before entering the conflict.
Wright told “Face the Nation” host Margaret Brennan that Trump had wanted to cease hostilities with Iran “since before he was president” and is working to end the war, which his administration began with strikes in February. During the war, the Strait of Hormuz — a critical chokepoint that 20 percent of the world’s oil demand usually goes through — has been effectively closed, causing oil and gas prices to skyrocket.
“He [Trump] has worked ceaselessly to try to end this war,” Wright said. “Not only would ending this war end the killing of tens of thousands of people every month, it would dramatically lower energy prices. He’s wanted to end that conflict since before he was president.”
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Wright also said that the president was “well aware of the risk to energy flows that were coming out of the Persian Gulf region,” and that the war in Iran would escalate energy prices.
Oil prices have climbed since the start of the War in Iran, and on Wednesday jumped one dollar per barrel, according to a Reuters report. This has caused Americans to feel pain at the pump with the national average price for a gallon of gas being $4.37, compared to $2.98 two days before the war began, according to the American Automobile Association (AAA).
The conversation during the exchange also turned to the possibility of levying tariffs against the U.S.’ adversaries during the ongoing oil crunch.
“Are we actually in a position where the U.S. might put tariffs on China for buying Russian oil?” Brennan asked Wright.”Are we actually going to see that? And what impact would that have for pricing?”
In response, Wright said that the Trump administration is “trying to have great relations with China and move that ball forward.”
“I think things are going reasonably well there but the flip side is, you have to look at every wrench you’ve got to bring a murderous conflict to an end,” he added.
On Oct. 18 — just weeks before the midterms — Trump could enforce a tariff increase rate up to 500 percent on all goods imported from Russia through the Lindsey Graham Act, according to analysis by Sullivan & Cromwell global law firm. The bill is named in honor of a late GOP senator known for his hawkish views on foreign policy, in particular the Russia-Ukraine war and Iran.
“He said, ‘I’m going to take a hit there but I gotta do the right thing,'” Wright said, when asked by Brennan if the tarriffs are a national security decision or a political one.
“If his decisions were political, he would have just kicked the can down the road and deliver a nuclear-armed Iran to the next president,” he emphasized.
During a Sept. 17 fireside chat with Daily Caller editor-in-chief Amber Duke, Wright said that restricting energy production or prematurely closing existing infrastructure leaves consumers more exposed when international supplies are disrupted.
“We believe in more energy and less expensive energy,” Wright told Duke at the time.
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