Oil Change response to Chris Wright’s CERAWeek speech
For immediate release
As energy bills and the price of gas spike because of Trump’s war in Iran, Chris Wright is speaking to the executives profiteering from our economic pain.
HOUSTON, TX — In response to U.S. Energy Secretary Chris Wright’s speech at the CERAWeek oil and gas conference, U.S. Campaign Manager Allie Rosenbluth said:
“As energy bills and the price of gas spike because of Trump’s war in Iran, Chris Wright is speaking to the executives profiteering from our economic pain. Once again, this administration is prioritizing Trump’s fossil fuel donors – not making life affordable for working families.
“Wright barely mentioned the financial impact of his administration’s war in Iran on working people. Since it began, gasoline prices have risen by nearly a dollar per gallon. At current prices, families will pay $720 a year more for energy than they would have without the war. Our estimates show that if oil prices rise just $20 a barrel, Big Oil will rake in $280 million in extra revenue every day. That’s over $100 billion a year.
“The fastest way to get lower-cost energy into the hands of people is to invest in a just transition to clean, renewable energy, which is now the cheapest form of new electricity generation in nearly every case. But because Big Oil depends on keeping the world hooked on fossil fuels, this administration continues to attack affordable wind and solar power and launch illegal conflicts to control other nations’ energy resources.
“As long as our energy system relies on volatile fossil fuel markets, conflicts will claim lives, destroy communities, and drive instability, price shocks, and corporate profiteering. The real path to energy security, reliability, and resilience is a just transition to affordable renewable energy – not more deals between Trump administration officials with deep ties to the fossil fuel industry and the industry itself.”
Note to the editor:
[1] For deeper analysis of oil and gas markets and the Trump administration’s conflicts in Iran and Venezuela, please see these pieces:
Trump and Israel’s War on Iran Once Again Exposes the Folly of Fossil Fuel Dependence
Trump’s reckless grab for power, riches, and oil in Venezuela