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Wright in Davos on Bloomberg: NATO, Oil Prices, and Venezuela Supply

January 22, 2026 · U.S. Department of Energy · 0:09:58

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

What happened

Energy Secretary Chris Wright, in his first Davos appearance, told Bloomberg the World Economic Forum gathering offered candid dialogues with political and business leaders from around the world. Asked whether the President’s style was turning off Europeans, Wright said the speculation — talk of the end of NATO or a U.S. military invasion of Greenland — was over the top and never on the table. He said the President’s focus since taking office has been strengthening NATO, increasing allied defense spending, and expanding trade and cooperation.

On oil, Wright said the President’s one constituency is the American consumer, and that the point of a free market is to serve consumers better, not to help or protect businesses. He noted shale companies struggled a decade ago when oil fell to $80, have since innovated and driven down breakeven prices, and that U.S. oil and natural gas production are at record highs — though producers must keep innovating and cutting costs.

Asked whether Venezuelan oil could cannibalize U.S. production at refineries or depress prices for struggling shale producers, Wright called it a challenge but said he would never underestimate the American oil and gas business, and returned to the theme that competitive supply serving consumers is the administration’s goal.

Why it matters

The Davos interview presents the administration’s energy philosophy to a global business audience: record U.S. production, consumer-first markets, and alliance-strengthening framed against European anxiety over the President’s negotiating style.

Sources: U.S. Department of Energy, “Secretary Wright Joins Bloomberg in Davos, Switzerland - January 22, 2026”, 2026-01-22 (official upload, embedded above; published 2026-01-22). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.