Trump Admin Seeks Boost from Energy CEOs Amid Iran War Price Spikes
The Trump administration is taking steps to address rising global energy prices caused by the Iran war. Interior Secretary Doug Burgum and Energy Secretary Chris Wright will hold a call with CEOs from major energy companies, including Exxon and Chevron, on Thursday.
The call aims to discuss potential measures to boost oil and gas output and mitigate the impact of the price hike on President Donald Trump's fellow Republicans in the November midterm elections. Global oil prices have spiked by 4.6% to above $99 a barrel as traders question whether peace talks between the US and Iran will resolve disruptions to Middle Eastern energy supplies.
The White House has confirmed that the call is being organized by the National Energy Dominance Council, a group formed by President Trump and led by Secretary Burgum and Secretary Wright. A White House spokeswoman stated that the two secretaries are in constant contact with oil and gas executives and emphasized the administration's commitment to 'DRILL, BABY, DRILL.'