Part 3/9:
The core of the dialogue centers on energy policy. The Secretary discusses efforts to centralize energy abundance to promote prosperity and peace—highlighting that "cutting permitting times" is essential for boosting domestic energy production. He emphasizes that streamlining red tape could reduce operational costs by approximately 10%, making US oil production more competitive at lower prices, possibly even as low as $60 per barrel.
He further elaborates that reductions in regulation allow American companies to operate more safely and efficiently, with a comparative advantage over foreign producers like Russia, whose high-cost production could become unsustainable if oil prices remain low.