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Secretary Wright on DOE Budget Savings, Venezuela Pressure, and the Prior Loan Book with Maria Bartiromo

May 9, 2025 · U.S. Department of Energy · 0:09:06

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

What happened

Secretary of Energy Chris Wright discussed his department’s budget and agenda with Maria Bartiromo on Fox Business on May 9, 2025, according to the Department of Energy broadcast. Wright cited his House Appropriations testimony on the fiscal 2026 budget, including new limits on indirect costs for state and local governments and for nonprofits and companies that he said are projected to save taxpayers more than $935 million a year, as stated in the interview. He said the department’s job is mainly to undo prior policies that made fossil fuels — still over 80 percent of American energy — more expensive, through permitting and export-terminal approvals and a kickstart for nuclear and geothermal, according to his remarks.

On Venezuela, Wright responded to Chevron CEO Mike Wirth’s warning that U.S. license revocations could push Venezuelan oil toward China. Wright said Venezuela slid from a wealthy U.S. ally into dictatorship, and that President Trump is applying pressure to drive change — which he said would be a win for both countries — rather than letting the situation continue, as stated in the interview.

Wright also attacked the prior administration’s loan and grant programs, saying a little over $40 billion went out through the Loan Programs Office in its first 15 years, while almost $100 billion went out in the 76 days between the 2024 election and the inauguration, with loan terms changed along the way, according to his remarks. He said Congress shows strong interest in codifying permitting and other structural fixes into law during the term, as stated in the interview.

Why it matters

The interview is a compact statement of Wright’s operating theory: save money inside the department, unwind the prior loan book he calls irresponsible, pressure Venezuela, and push Congress to make the energy agenda statutory before the term ends.

Sources: U.S. Department of Energy, “Secretary Wright Joins Fox Business’ Maria Bartiromo - May 9, 2025”, 2025-05-09 (official upload, embedded above; published 2025-05-09). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.