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Secretary Wright Predicts Venezuelan Oil Growth in 2026 and Credits Coal for Winter Storm Grid Performance on CNBC

February 6, 2026 · U.S. Department of Energy · 0:08:10

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

What happened

Secretary of Energy Chris Wright discussed oil markets, Venezuela, and the electric grid with CNBC’s Brian Sullivan on February 6, 2026, according to the Department of Energy broadcast. Wright said the United States and its allies could fill any supply gap if Iranian exports were disrupted, and turned to Venezuela, which he said is producing about 900,000 barrels of oil per day under U.S. control of its oil sales, as stated in the interview. He predicted several hundred thousand barrels per day of growth in Venezuelan production during 2026, calling it a substantial share of global demand growth, according to his remarks.

On the grid, Wright said the recent severe winter storm proved the value of keeping coal plants open: the administration kept 17 gigawatts of coal capacity operating that he said was critical during peak demand, while wind, solar, and batteries provided 2 percent of New England’s electricity at peak, less than the 3 percent from burning trash and wood, as stated in the interview. He argued data centers ultimately drive electricity prices down, pointing to states with rapid demand growth and below-inflation price increases, according to his remarks.

Why it matters

Wright used the interview to quantify two administration bets: that U.S.-directed Venezuelan oil becomes a meaningful stabilizer of world markets in 2026, and that dispatchable generation — not weather-dependent sources — is what kept the grid up in the winter storm.

Scoreboard watch

Wright’s prediction of several hundred thousand barrels per day of Venezuelan production growth in 2026 is a dated, checkable claim for the scoreboard editor.

Sources: U.S. Department of Energy, “Secretary Wright Joins CNBC’s Brian Sullivan - February 6, 2026”, 2026-02-06 (official upload, embedded above; published 2026-02-06). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.