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Transcript: Energy Secretary Chris Wright on "Face the Nation with Margaret Brennan," Sept. 6, 2026
CBS News • • business
Key Points:
- Energy Secretary Chris Wright expects gasoline prices to decline after Labor Day due to reduced demand and recent regulatory changes allowing refiners to increase output.
- Diesel prices remain high largely due to global refining capacity issues, particularly damage to Russian refineries, and the administration is focusing on maximizing domestic production rather than imposing export bans.
- The U.S. continues diplomatic efforts with Iran but is prepared for prolonged tensions, emphasizing military efforts to block Iranian oil exports while boosting supply from Alaska, the Gulf, Venezuela, and the Middle East.
- The U.S. is investing in Venezuelan oil production through a deal that aims to increase output and lower prices, despite concerns about the current Venezuelan government's legitimacy; elections are anticipated but no specific timeline was provided.
- Secretary Wright criticized past Democratic policies for reducing refinery capacity and emphasized the need to remove barriers to production growth to stabilize oil prices and enhance energy independence.
