“Chris Wright Confirmed as Energy Secretary: What This Means for Trump’s Energy Policies”
The Senate confirmed Chris Wright to lead the U.S. Department of Energy on Monday, with a vote of 59 to 38. Mr. Wright, the founder and chief executive of Liberty Energy, a fracking firm, will be the 17th secretary of energy. His confirmation puts him in a key position to help shape President Trump’s energy policies.
During his confirmation hearing, Mr. Wright stated that his top priority is to “unleash” domestic energy production, including liquefied natural gas and nuclear power. He also acknowledged climate change as a global challenge that needs to be addressed and expressed support for renewable energy sources like wind and solar power.
However, Mr. Wright also emphasized his commitment to supporting President Trump’s energy agenda, which includes expanding the use of oil, gas, and coal. This stance is in contrast to the aggressive support for clean energy technologies under the Biden administration.
The Energy Department, which Mr. Wright will now lead, plays a central role in developing new energy technologies. It oversees a network of 17 national laboratories that conduct cutting-edge research and a powerful loan office that has backed numerous low-carbon energy projects.
One of the key responsibilities of the Energy Department is to approve liquefied gas export terminals. Mr. Wright will oversee these approvals, which have been a point of contention between the Biden administration and industry groups.
Despite opposition from major environmental groups and many Democrats, Mr. Wright’s confirmation received support from some Senate Democrats. They cited his commitment to working with them on issues like investing in national labs and building high-voltage power lines.
Mr. Wright’s background includes founding Pinnacle Technologies in 1992, which played a role in the commercial shale-gas revolution. He started Liberty Energy in 2011, focusing on geothermal energy and small modular nuclear reactors.
As part of his ethics agreement, Mr. Wright has committed to stepping down from Liberty Energy and divesting his holdings within 90 days of being confirmed. He holds 2.6 million shares in the company, worth approximately $47 million based on Monday’s closing stock price.
In conclusion, Chris Wright’s confirmation as the Secretary of Energy marks a significant shift in energy policy direction, with implications for domestic energy production, climate change efforts, and the future of clean energy technologies.