Mike Wirth Praises Trump’s Energy Policies During Permian Basin Visit
Chevron CEO Mike Wirth emphasized the strategic link between America’s energy production and national defense during an exclusive interview with FOX Business host Maria Bartiromo in the Permian Basin, Texas. Wirth credited President Donald Trump’s energy policies for revitalizing the U.S. oil and gas sector and reinforcing the nation’s economic and security position.
“Energy security and national security are linked,” Wirth said in a preview of his upcoming appearance on “Sunday Morning Futures”. “The U.S. is blessed with an abundance of natural resources, and we now have an administration that wants to see the energy industry invest in those resources to ensure that America’s energy strength translates into economic strength, competitiveness, and, importantly, security.”
Permian Basin: The Center of U.S. Oil Production
Speaking from Midland, Texas, home to the Permian Basin—the largest and most productive oil field in the United States—Wirth highlighted its critical role in maintaining energy independence. The region is expected to account for 70% of U.S. oil production by 2040.
“The Permian Basin will be producing for decades to come as we continue to innovate and find ways to improve recovery,” Wirth said, noting Chevron’s ongoing investments in new technologies that enhance efficiency and reduce emissions.
His remarks came shortly after the Trump administration announced plans to purchase one million barrels of crude oil to replenish the Strategic Petroleum Reserve and to impose sanctions on two major Russian oil companies. The moves underscore what Wirth described as a major shift in federal energy strategy toward “American energy dominance.”
Policy Shift Toward Energy Expansion
“We’ve gone from an administration that openly declared its intent to reduce and eliminate our industry over time,” Wirth said, referring to previous policy environments, “to one that sees American energy strength as integral to economic competitiveness. We’ve seen a real policy shift.”
He also praised the Trump administration’s streamlining of permitting processes and reversal of restrictions on lease sales in the Gulf of Mexico, calling them pivotal for future exploration and investment. “We’ve resumed lease sales in an area that’s got tremendous potential,” he noted.
According to Wirth, these regulatory changes allow companies like Chevron to deploy capital more efficiently. “We’ve seen senior Cabinet officials that actually understand energy,” he said. “This administration wants to protect the environment, but it also wants to use our country’s resources to support our economy and security.”
Chevron’s Expanding U.S. Investment
Chevron’s current strategy, Wirth explained, reflects confidence in the U.S. energy landscape. “We’re investing two-thirds of our global capital spending—between $15 billion and $20 billion this year—right here in the United States,” he said. “If you go back a decade or more, it was the reverse: most of our spending was going abroad.”
Wirth added that codifying pro-energy policies through legislation would ensure long-term stability for the sector. “The most important thing now is to see these policies made durable,” he said, pointing to the need for a consistent framework to sustain U.S. energy leadership in the decades ahead.
As Chevron continues expanding operations in the Permian Basin, Wirth framed the company’s investments as not just an economic decision but a strategic one. “Energy abundance isn’t just about powering our economy,” he concluded. “It’s about protecting our nation and ensuring America’s global strength for generations to come.”
