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Secretary Chris Wright Discusses Falling Oil and Gasoline Prices With Mike Emanuel

March 24, 2025 · U.S. Department of Energy · 0:05:42

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

Fox News opened with President Trump promising prices will come down as the energy market stabilizes, citing oil at $65 a barrel, down from $82. Energy Secretary Chris Wright was asked about crude prices: the program noted oil was $77.88 on January 17 and $68.30 the past week, a drop of 13%, and that average gasoline was $3.12 against $3.53 a year earlier, as the broadcast stated the figures.

Wright said energy is the base ingredient that makes everything possible, so lower energy prices lower the cost of everything. He said the market is a discounting mechanism: people see a president who is not going to spend his administration trying to block oil and gas production, which implies more supply, and the market was recognizing that progress as prices moved down on the signal, according to the interview.

After a clip of Senator Bernie Sanders on climate, Wright said he went to college at 17 to work on fusion energy, then solar, then geothermal, because people believed the world was running out of oil and gas — but fifty years ago the world got 85% of its energy from hydrocarbons, and for the last full year of data it was still 85%, despite trillions invested, while wind, solar, and batteries together are 3% of global energy, as he stated it. On AI competition, he said China is by far the largest importer of energy and the United States by far the world’s largest producer, putting the U.S. in a fantastic situation, according to Wright.

Why it matters

The March interview is an early marker of the administration’s price claim — that the policy signal alone moved markets — with specific January-to-March price points stated on the record.

Scoreboard watch

Scoreboard watch: the price points stated in the segment — crude from $77.88 on January 17, 2025 to $68.30, and average gasoline at $3.12 versus $3.53 a year earlier — are checkable claims flagged for the scoreboard editor.

Sources: U.S. Department of Energy, “Secretary Wright joins Fox News’s Mike Emanuel - March 23rd, 2025”, 2025-03-24 (official upload, embedded above; published 2025-03-24). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.