Energy Secretary Wright says the Navy is escorting the tanks that are coming soon
President and CEO of the American Petroleum Institute Mike Sommers says the release may be an insurance policy for ‘Kudlow.’
Energy Secretary Chris Wright on Thursday said that while the US Navy may be in a position to escort oil tankers The Strait of Hormuz to protect them from an attack by Iran, the Navy is not yet ready to do so.
Wright said in an interview on CNBC’s “Squawk Box.” that a tanker patrolling the Strait of Hormuz – a key point in shipping lanes across the Persian Gulf – will soon be on the table as an air campaign against Iran’s military power continues. Shipping in the crisis has largely stopped because of the threat of an attack on Iran.
“It’s going to happen soon, but it’s not going to happen now,” Wright said in an interview. “We are not ready yet. All of our military assets are currently focused on destroying Iran’s offensive capabilities and the manufacturing industry that provides its offensive capabilities.”
The energy secretary was asked in an interview whether the Marine Corps would be able to begin escorting tankers aboard later this month and Wright replied, “Yes, I think it might be.”
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Aerial view of the Port of Fujairah, United Arab Emirates, in the Strait of Hormuz, December 10, 2023. (Reuters/Stringer)
“And, I’m going to go over to the Pentagon later today. But that’s what the military is working on and, yes, a lot of critical stuff is coming out of the Strait of Hormuz,” Wright told CNBC.
“We have the world’s largest economy. Fortunately, with President Trump policies, we are a net exporter of oil, we are a net exporter of natural gas, and in fact we are increasing our total natural gas shipments this spring, this summer. You will see a lot more online by the end of this year,” he added.
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Ships passing through the narrow Strait of Hormuz are vulnerable to Iranian attacks. (Giuseppe Cacace/AFP via Getty Images)
Wright said in the interview that the Trump administration does not want the Iran campaign to be “a brush off for a year or two” and wants to “permanently destroy their ability to build missiles, build drones, and have a gun.” nuclear program.”
“It’s a short-term pain for a long-term gain, but it’s something you have to earn. Besides, you have decades in the future Iran that can hold the whole world whenever you want,” he added.
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Energy Secretary Chris Wright said the Navy may be able to provide escorts through the Strait of Hormuz later this month. (Adam Gray/Bloomberg via Getty Images)
I of the secretary of energy The comment comes after a deleted social media post on his X account stated that “The US Navy has successfully escorted an oil tanker to the Strait of Hormuz to ensure that oil continues to flow to global markets.”
However, this position has been downgraded and White House press secretary Caroline Leavitt confirmed during a statement that “US Navy He has not escorted a tanker or ship at this time. However, that is a method the president has said he will absolutely use if necessary at the right time. “
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Oil prices rose sharply amid the conflict with Iran, with prices briefly rising near $115 a barrel before falling and trading between $80 and $95 a barrel this week.
Fuel prices rose again, AAA reported that the national average price of a gallon of gas rose to $3.598 a gallon as of Thursday – up from $2.944 a gallon last month.
