“Sunday Morning Futures” host Maria Bartiromo offers insight into her exclusive tour of the Permian Basin and an interview with Chevron CEO Mike Wirth examining how energy strength relates to economic competitiveness.
In an exclusive conversation with FOX Businesss’ Maria Bartiromo during a tour of the Permian Basin, Chevron CEO Mike Wirth said America’s vast energy resources are not just an economic advantage — but also a matter of national defense — while praising President Donald Trump’s energy initiatives.
“Energy security and national security are linked,” Wirth said in a preview of his interview on “Sunday Morning Futures,” which will air in full on “Mornings with Maria” Monday.
“The United States has an abundance of natural resources,” he continued. “And we now have an administration that wants to see the energy industry invest in these resources to ensure that America’s energy power translates into economic strength, competitiveness and, above all, security.”
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Wirth spoke from the Permian Basin in Midland, Texas, home to America’s richest oil and gas deposit, which is expected to provide 70% of U.S. oil production by 2040.
In a preview of a Permian Basin-exclusive “Mornings with Maria,” Chevron CEO Mike Wirth explains how U.S. energy dominance ties to national security, while praising Trump-era policies. (FOXBusiness)
“The Permian Basin will produce for decades as we continue to innovate and find ways to improve recovery,” the CEO said.
While primarily discussing the technology and innovation that will propel U.S. energy independence, Wirth’s interview follows the Trump administration’s decision to purchase a million barrels of crude oil to replenish the Strategic Petroleum Reserve and to separately sanction two of Russia’s major oil companies.
“We have gone from an administration that has openly stated its intention to try to shrink and eliminate our industry over time, and we now have an administration that views American energy strength, American energy dominance, as linked to economic competitiveness. We have seen a shift in policy,” Wirth noted.
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“We’ve seen senior Cabinet officials who really understand energy. And look, this administration also wants to protect the environment. But they want to use our nation’s resources to support our economy and our security,” Wirth added, “and we’ve seen that in policies at every level.”
Chevron’s CEO highlighted the elimination of red tape in permitting processes that streamline the path from application to approval.
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“We have seen a reversal of policies that stopped deepwater lease sales. [of the] Gulf of America, and we have now resumed lease sales in an area that has tremendous potential,” Wirth said.
“What would really be most important now is to see these measures codified in legislation ensuring their sustainability. We have a long-term plan that we have continued to follow,” he added. “We’re investing two-thirds of our global capital spending, which is between $15 billion and $20 billion this year, right here in the United States. If you go back a decade or more ago, the trend was reversed: Most of the spending was going outside of this country.”
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