Energy Sec. Wright says 'we're open to all ideas' amid calls to suspend gas tax: Full interview

[0:00] And joining me now is Energy Secretary Chris Wright. [0:03] Secretary Wright, welcome back to Meet the Press. [0:06] Thanks for having me and happy Mother's Day. [0:08] Thank you so much. [0:09] Thank you for being here on Mother's Day. [0:11] A lot to discuss. [0:12] I do want to start on these negotiations [0:15] between the United States and Iran. [0:17] President Trump saying that the United States [0:19] was anticipating a response from Iran [0:23] to its latest proposal. [0:25] Has Iran, in fact, responded to the United States? [0:28] I don't think we've heard a clear resolution from Iran yet. [0:32] Given the state of the government in Iran, [0:35] things just move slowly. [0:37] Communications are difficult. [0:38] There are multiple factions. [0:40] This is a regime under serious stress. [0:43] Would the United States ever agree to a deal with Iran [0:47] that does not address its nuclear program, [0:51] even if it's a short-term deal? [0:54] Oh, I mean, I don't know about interim deals or whatever, [0:56] but we know where the endpoint is going to be. [0:59] The endpoint is going to be free flow of traffic [1:02] through the international waters [1:03] that are the Straits of Hormuz [1:04] and an end to the Iranian nuclear program. [1:08] That's where we're going to end. [1:09] The pathway from here to there, we're going to find out, [1:12] but that's the endpoint. [1:13] So it's possible an interim deal [1:15] might not address all of the concerns [1:17] regarding Iran's nuclear program. [1:20] Certainly that's got to be possible. [1:21] Well, I guess, and just to clarify, [1:23] in terms of the Strait of Hormuz, [1:25] what is the administration's top priority? [1:27] Dealing with Iran's nuclear program [1:29] or reopening the Strait of Hormuz? [1:31] Well, the top priority [1:32] is ending Iran's nuclear program. [1:34] The world simply cannot have a nuclear-armed Iran. [1:38] They've got nearly 1,000 pounds [1:39] of 60% enriched uranium. [1:43] You know, this is close to weapons-grade uranium. [1:45] There's no commercial or peaceful use [1:47] of nuclear weapons. [1:48] They always lie and say they're doing this [1:50] for their nuclear power industry. [1:53] Just total nonsense. [1:54] They have been, you know, in a dash to build a bomb, [1:57] and they have enriched material, [1:59] almost fully enriched, to make 10 nuclear bombs. [2:03] We cannot have that for the world. [2:05] We cannot have that in the Middle East. [2:06] We cannot have that in the United States of America. [2:08] I do want to talk about the big issue [2:10] for Americans, gas prices, of course. [2:12] You just heard me discuss how high they went this week. [2:16] Here's what you said in this program [2:18] in March about gas prices. [2:20] Take a look. [2:21] Are you confident that gas will be back [2:23] under $3 a gallon [2:25] by the busy summer travel season, Mr. Secretary? [2:28] There's a very good chance that'll be true. [2:30] You know, there's no guarantees in war. [2:33] The time frame's still not entirely clear, [2:35] but I think that's certainly a goal [2:37] of the administration and very possible. [2:40] Do you think it's still very possible [2:42] that gas prices will dip below $3 a gallon [2:45] in time for summer, which is about six weeks? [2:48] I can't make any predictions [2:49] about, you know, oil prices or gasoline prices. [2:53] The military part of the conflict [2:55] took about what we expected. [2:56] I think the president was guiding four to six weeks, [2:59] took five and a half weeks. [3:01] After the military, main military operations have ceased, [3:05] now we're in a negotiating period. [3:06] We're using economic leverage against Iran, [3:09] and this regime is trying to cling on [3:12] to their nuclear program. [3:13] So obviously this part of the conflict [3:16] has gone a little longer. [3:17] President Trump hasn't ruled out [3:19] still using a military option. [3:22] Are you saying military options have ceased, [3:25] have officially come to an end? [3:26] No, no, there's, I mean, yeah, again, [3:29] we're not going to take any options [3:30] off the table going forward. [3:32] But as far as our goals to destroy [3:34] their industrial capability to build missiles, [3:38] to build missile launchers, to build drones, [3:40] to completely degrade their air defense system, [3:44] to sink their Navy and their air force, [3:47] all of that went well. [3:48] And that was a critical part of this mission. [3:51] Just to go back to this central question, though, [3:53] do you anticipate gas prices will drop [3:56] below $3 a gallon this year? [4:01] I can't make predictions about that. [4:03] But I can say that when we start to get free flow of traffic [4:06] through the Straits of Hormuz, [4:08] energy prices will come down. [4:10] And by ending Iran's ability to get a nuclear weapon, [4:14] they are the biggest threat in the world [4:17] to the flow of global energy. [4:19] They've killed more American soldiers [4:20] over the last two decades than any other power. [4:23] They're the giant force of destabilization. [4:25] They're the largest sponsor of terrorism [4:28] around the planet. [4:29] So ending Iran's nuclear program, [4:31] that is massively positive for the flow of energy, [4:35] meaning more energy will flow in the future, [4:37] meaning lower energy prices for Americans [4:39] and the rest of the world. [4:40] Long term, this is a great move. [4:42] Short term, it's causing some discomfort. [4:44] So you're saying that ultimately gas prices [4:46] will start to come down once the strait is reopened. [4:49] Here's what analysts are saying [4:50] about how high gas prices could ultimately go. [4:53] U.S. gasoline prices have a legitimate chance [4:57] of rising to $5 a gallon [5:00] as refiners prioritize jet fuel production [5:04] at the expense of other products, [5:06] according to analysts at JPMorgan Chase. [5:08] Should Americans be prepared for the possibility [5:11] of paying $5 a gallon for gas? [5:14] Look, again, I can't predict the price of energy [5:17] in the short term or even the medium term, [5:19] but what we're doing is ending a 47-year conflict [5:23] Iran has fought death to the United States [5:26] for 47 years, death to Israel. [5:28] And as we saw when the conflict broke out, [5:30] they attacked all of their neighbors [5:32] in the Middle East that had no involvement [5:34] in the conflict whatsoever. [5:36] If you have a hostile, unstable power like that, [5:40] you simply cannot allow them to have nuclear weapons. [5:43] That was a consensus opinion all my adult life. [5:46] I'm shocked to see Democrats come out of the woodwork now [5:50] somehow not worried about Iran getting nuclear weapons. [5:53] I know you're saying you can't predict [5:54] how high gas prices will go, [5:56] but I don't hear you ruling out the possibility [5:58] that they could, in fact, go to $5 a gallon. [6:01] Well, I'm just avoiding price predictions. [6:03] But I will say, [6:04] the United States is in a tremendous position. [6:06] We're by far the world's largest producer of oil. [6:09] We're by far the world's largest producer of natural gas. [6:12] There's been no rise in the price of natural gas. [6:15] That's the largest primary energy source [6:18] for the United States. [6:19] That's for home heating. [6:20] That's for electricity. [6:21] Gasoline diesel prices are up, [6:23] and they will remain up while this conflict's in place, [6:26] and then they will come back down. [6:27] And ultimately, they'll come back down [6:29] lower than they were before. [6:30] You're saying they're going to come back down. [6:32] The head of the International Energy Agency [6:34] says more than 80 Persian Gulf energy facilities [6:38] have been damaged, about a third of them severely, [6:41] and it could take up to two years [6:44] to fully restore production. [6:46] Why should Americans believe that prices will fall quickly [6:50] when experts say it could take up to two years [6:52] even once this war ends? [6:54] That's to bring all of those facilities back on. [6:56] That's one region of the world. [6:58] Oil production in Venezuela today is growing rapidly. [7:01] Venezuela's neighbor, Guyana, [7:03] has rapid oil production growth, rapid growth in Brazil. [7:06] We're bringing on new oil in the Gulf of America [7:09] and in Alaska and the United States. [7:11] There's an incredibly bright outlook [7:13] for growing global energy production, [7:15] which allows the economy to grow [7:17] and prices to remain low. [7:18] Let's talk about this debate over the gas tax. [7:21] States like Georgia, Indiana, Utah [7:23] have suspended their gas taxes, [7:26] and there's a bill in Congress, actually, [7:28] that would temporarily suspend the federal gas tax, [7:31] which is 18 cents a gallon currently. [7:34] Would you support suspending the federal gas tax [7:38] to give families relief right now? [7:40] Yeah, all measures that can be taken [7:42] to lower the price at the pump [7:45] and lower the prices for Americans, [7:47] this administration is in support of. [7:49] We are constantly looking for different ideas. [7:52] We've taken a number of actions, [7:54] receiving, releasing oil [7:56] from our strategic petroleum reserves, [7:58] getting 30 other nations [7:59] to do that in coordination with us. [8:01] We revised the EPA regulations [8:05] on summer gasoline blend [8:06] to make it easier for American refineries [8:08] to produce more gasoline. [8:10] We've been in contact [8:11] with all American refiners, [8:13] asking them to do shorter maintenance work [8:15] this spring so they can keep pumping out more products. [8:18] So we are working every day [8:20] to offset this rise in prices [8:23] because of a critical conflict in Iran [8:25] to drive prices down, [8:26] and we're open to all such ideas. [8:28] So this is significant, what you're saying. [8:29] You're saying that you, that President Trump, [8:31] would be open to suspending the federal gas tax? [8:35] We're open to all ideas. [8:37] Everything has trade-offs. [8:38] All ideas to lower prices [8:40] for American consumers and American businesses. [8:43] All right, let me ask you about [8:44] what we've been discussing at the top, [8:46] the Strait of Hormuz. [8:47] Before the war, [8:48] more than 100 ships transited the Strait [8:51] every single day. [8:52] This week, just seven ships [8:54] transited the Strait of Hormuz. [8:55] Who is in control of the Strait of Hormuz [8:58] right now, Mr. Secretary? [9:00] Well, the United States has a blockade. [9:03] We are not allowing any ships [9:05] to come out from Iranian ports [9:06] or to go into Iranian ports. [9:09] Iran, after decades of spending [9:11] a large percent of their entire economy [9:13] building a giant weapons arsenal, [9:16] all to shield their nuclear program, [9:18] so ultimately they would be untouchable. [9:20] They have an ability to cause trouble [9:23] in the Strait of Hormuz, [9:24] and they are doing it. [9:25] So is the U.S. in control [9:26] of the Strait of Hormuz? [9:28] We are, today, we are controlling [9:30] no flow of Iranian ships. [9:32] We have escorted out several American ships. [9:35] And if need be, [9:36] if we don't get to a deal with Iran, [9:38] we will use military force [9:40] to open the strait to everyone. [9:42] Today, traffic through the Strait of Hormuz [9:45] is challenged. [9:46] Why didn't the U.S. secure [9:48] the Strait of Hormuz [9:50] when the war first began in February? [9:53] It's about focus. [9:54] It's about focus. [9:55] We want to do as quickly as possible, [9:58] take away Iran's military capabilities [10:01] to defend their airspace [10:02] and to destroy their industrial complex. [10:05] We challenged the long-term things first. [10:08] We needed to degrade their infrastructure [10:10] to project terror around the Middle East, [10:12] to threaten oil supplies in the long run. [10:16] And we'll deal with this. [10:17] In the middle of the conflict, [10:19] the thing was about getting the war aims done. [10:22] Now, as we move back out the other side, [10:24] it's to establish the free flow of commerce. [10:26] Let me ask you this. [10:27] This week, the president announced Project Freedom, [10:30] as you know, [10:30] an operation to escort ships [10:33] trapped in the Persian Gulf [10:34] through the Strait of Hormuz. [10:36] NBC News reported this week [10:38] that he canceled the operation [10:40] just 36 hours later [10:42] over Saudi Arabia's concerns [10:44] that the plan would trigger [10:45] potentially catastrophic attacks from Iran. [10:48] Did the U.S. back away from Project Freedom [10:51] because of risks of further military action? [10:55] The U.S. backed away [10:56] or just suspended briefly Project Freedom [10:59] because of Iran's concerns. [11:01] Iran has one card. [11:03] They can cause trouble in the Straits of Hormuz. [11:05] They are keen to get a negotiated deal. [11:08] If we open that militarily without Iran, [11:11] they have no cards left. [11:12] They can cause trouble in the meantime. [11:14] They said, wait, wait, wait. [11:16] Let's talk. [11:16] Let's get a deal. [11:17] We're going to open this more quickly [11:19] in a simpler fashion. [11:20] And we're given that chance [11:22] to have a negotiated settlement, [11:24] which is the best end here. [11:25] All right. [11:26] Well, we will continue to track [11:27] whether that negotiated settlement happens. [11:29] Thank you so much. [11:30] Secretary Wright, [11:31] we really appreciate your being here. [11:33] Thank you, Kristen. [11:33] Great to be with you. [11:34] Great to have you here. [11:35] We thank you for watching. [11:37] And remember, stay updated on breaking news [11:39] and top stories on the NBC News app [11:41] or watch live on our YouTube channel.