Top executives from the world’s largest oil and gas companies voiced strong support for President Donald Trump’s energy policies at the annual CERAWeek by S&P Global conference in Houston, despite financial markets reacting negatively to his broader economic agenda.
Chevron Chief Executive Officer Mike Wirth highlighted a potential “reset” in the debate on climate change and energy production, while Shell Plc CEO Wael Sawan expressed confidence in sustained demand for natural gas. Saudi Aramco CEO Amin Nasser, meanwhile, pointed out weaknesses in the global energy transition.
The enthusiasm from industry leaders comes as Trump’s administration pushes for US fossil fuel dominance, offering oil and gas firms opportunities to secure key permits for drilling and liquefied natural gas (LNG) export projects.
However, challenges remain, including the impact of Trump’s trade tariffs, which could raise costs for steel used in pipelines and infrastructure.
“The president and his team fully recognize that to meet the energy dominance agenda, the trade agenda must align,” said American Petroleum Institute CEO Mike Sommers, who remains optimistic about securing exemptions from the tariffs.
Despite uncertainties, executives at Chevron and Shell welcomed Trump’s approach, contrasting it with what they saw as excessive regulatory and climate policies under the Biden administration and in Europe.
“There’s no question the narrative is changing,” Sawan said.
Bloomberg
