Energy Secretary Chris Wright Leaves Door Open on $200 Oil

"There's a very good chance that'll be true. You know, there's no guarantees in war. The timeframe's still not entirely clear. But I think that's certainly a goal of the administration and very possible."

"So Iran for 47 years has called the United States the great Satan. So because they call us the great Satan, I don't think we are the great Satan. In fact, clearly we're not. So I don't listen much to Iranian projections of what's going to happen."

"There is a lot of energy that flows through the Strait of Hormuz. And depending upon the timing and the manner in which this conflict comes to an end, we're going to see some elevated pricing until we get there. We've had allies in the Middle East that moved oil overseas before the conflict started."

Energy Secretary Chris Wright appeared on NBC's Meet the Press to discuss oil prices and energy security amid geopolitical tensions. When asked about gas prices returning below $3 per gallon for summer travel season, Wright expressed confidence this was possible but noted no guarantees exist. Regarding Iranian warnings of oil reaching $200 per barrel, Wright dismissed these projections, stating Iran's rhetoric should not be trusted given its historical antagonism toward the United States. He acknowledged that significant energy flows through the Strait of Hormuz and that pricing could remain elevated depending on conflict resolution timing. The administration has implemented mitigation measures including coordinating a 400 million barrel oil release with over 30 nations and increasing domestic production in California.

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