WEBVTT - US Energy Secretary Chris Wright Talks Energy Sector

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Let's transition now to Washington, where the US Department of

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<v Speaker 2>Energy has outlined their energy roadmap focused on unleashing American

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<v Speaker 2>energy innovation and strengthening power grid reliability and security. I'm

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<v Speaker 2>pleased to say that US Energy Secretary Chris Wright, who

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<v Speaker 2>was confirmed just last week, joins us now for an

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<v Speaker 2>exclusive interview. It's such a pleasure to have you, mister Secretary.

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<v Speaker 3>Thank you for joining.

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<v Speaker 1>Us, Thanks for having me, Alex. Great to be here,

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<v Speaker 1>you bet so.

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<v Speaker 3>Last time we talked, you were CEO of and Oil.

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<v Speaker 2>Company, and now you run energy policy for the United States.

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<v Speaker 2>That's a big change. What do you say when I

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<v Speaker 2>ask you.

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<v Speaker 3>The question, what oil price do you guys want right now?

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<v Speaker 4>Well, I don't want any oil price right now lowers better.

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<v Speaker 4>The President got elected to bring down energy prices and

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<v Speaker 4>broader prices across the economy and grow opportunities for American

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<v Speaker 4>So my goal right now is more energy of all kinds,

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<v Speaker 4>more affordable, reliable, secure energy to expand American opportunities.

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<v Speaker 3>But the easy pickings are oil. So what's the price?

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<v Speaker 2>And I say this because with your dual hat, right,

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<v Speaker 2>if you're an oil producer, you don't want sixty dollars oil.

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<v Speaker 2>You want to make more money for the oil. As

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<v Speaker 2>energy secretary, you want sixty dollars oil.

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<v Speaker 1>Well, all we can.

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<v Speaker 4>Do supply and demand will be decided by well consumers

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<v Speaker 4>in the marketplace and producers. But what we can do

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<v Speaker 4>and what we're focused on, is reducing the cost to

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<v Speaker 4>produce a barrel of oil. So for producers, they could

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<v Speaker 4>have lower oil prices and the same profitability if their

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<v Speaker 4>costs were reduced. So the last administration spent four years

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<v Speaker 4>trying to put all sorts of barriers make it harder

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<v Speaker 4>and riskier to produce oil in the United States.

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<v Speaker 1>We're going to do the opposite.

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<v Speaker 4>We're going to try to enable producers to bring on

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<v Speaker 4>supply at lower costs and greater certainty.

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<v Speaker 5>So I'm going to follow up on that Chris and

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<v Speaker 5>ask how can you lower the cost curve for company

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<v Speaker 5>is to invest in new development and not just use

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<v Speaker 5>money to offset regular well declines.

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<v Speaker 4>Yes, So one of the biggest challenges investing in oil

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<v Speaker 4>and gas infrastructure over the last bunch of years has

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<v Speaker 4>been uncertainty. If you produce more products, can you get

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<v Speaker 4>it to market? You know, we still have six states

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<v Speaker 4>in New England without a reliable supply of natural gas.

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<v Speaker 4>That's bad for producers, that's bad for consumers. But there's

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<v Speaker 4>a number of barriers like that.

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<v Speaker 1>That we can move out of the way.

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<v Speaker 4>LNG export pause, for example, everybody in India is alarmed

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<v Speaker 4>they might not get an increasing supply of natural gas.

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<v Speaker 4>And how are American producers of natural gas can to

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<v Speaker 4>invest more in gas production infrastructure if.

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<v Speaker 1>They're not sure if they can get it to market.

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<v Speaker 4>So I think, you know, we can help the consumers

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<v Speaker 4>of India, the population of the United States, and producers

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<v Speaker 4>of natural gas by just removing those uncertainties and going

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<v Speaker 4>back to regular, common sense business.

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<v Speaker 5>Removing uncertainty is one thing, But I'm curious whether there's

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<v Speaker 5>a ceiling on US crew production right now that EIA

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<v Speaker 5>is projecting a two point three percent increase in US

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<v Speaker 5>crew production, how much higher do you think realistically that

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<v Speaker 5>could go.

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<v Speaker 4>Well, again, that's going to be the ability to build

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<v Speaker 4>infrastructure and access more consumers, but I think it could

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<v Speaker 4>grow meaningfully. It's probably not going to grow meaningfully in

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<v Speaker 4>the short run, although our natural gas production I think

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<v Speaker 4>is going to grow dramatically in the next two or

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<v Speaker 4>three years. But if you look at five or ten years,

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<v Speaker 4>could America grower oil production significantly?

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<v Speaker 1>Absolutely, mister Secretary, to that point.

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<v Speaker 2>In terms of building out infrastructure, that's been very difficult,

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<v Speaker 2>in terms of permitting, in terms of getting something in

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<v Speaker 2>the ground, that's been very hard to Tariffs and higher

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<v Speaker 2>prices for aluminum and steel and things like that make

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<v Speaker 2>that even harder for you.

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<v Speaker 4>Look at tariff's what's been the big issues for this

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<v Speaker 4>president that he ran on, you know, the economic well

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<v Speaker 4>being of Americans and the national security of our country

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<v Speaker 4>and our citizens. So we've had twenty plus years of

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<v Speaker 4>sort of de industrializing the United States and letting our

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<v Speaker 4>heavy industry flow overseas. This president is passionate about increasing

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<v Speaker 4>national security, and that means we have to have the

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<v Speaker 4>ability to build heavy steel intensive, illumina intensive, material intensive

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<v Speaker 4>systems in our country. Again, so this is an attempt,

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<v Speaker 4>I believe, by our president to incentivize the reindustrialization of America.

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<v Speaker 2>Talking about different forms of energy because as you pointed out,

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<v Speaker 2>like it's not just oil right, all forms of energy,

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<v Speaker 2>it's energy security.

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<v Speaker 3>What role do you think coal is going to play

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<v Speaker 3>in that?

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<v Speaker 4>The coal has been essential to the United States is

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<v Speaker 4>energy system for over one hundred years. It's been the

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<v Speaker 4>largest source of global electricity for nearly one hundred years,

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<v Speaker 4>and it will be for decades to come.

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<v Speaker 1>So we need to be realistic about that.

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<v Speaker 4>Now with coal, are we going to see a renaissance

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<v Speaker 4>in surging coal production in the United States? Not likely,

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<v Speaker 4>But we're all on a path to continually shrink the

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<v Speaker 4>electricity we generate from coal. That's made electricity more expensive

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<v Speaker 4>and our grid less stable. So I think the best

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<v Speaker 4>we can hope for in the short term is to

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<v Speaker 4>stop the closure of coal power plants.

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<v Speaker 1>No one has won by that action, you know.

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<v Speaker 5>I was looking at the energy roadmap that you've published

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<v Speaker 5>the Department has published, and the word security comes up

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<v Speaker 5>so many times. I'm wondering why or does energy security

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<v Speaker 5>also include solar and wind, and if not, why not?

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<v Speaker 4>Well, the goal is We're not specific to any particular

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<v Speaker 4>energy production technology. The goal is just affordable, reliable, secure

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<v Speaker 4>energy from wherever that comes from. Obviously there's going to

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<v Speaker 4>be roles in the long run for solar energy. There's

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<v Speaker 4>places where it makes tons of sense, where where the

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<v Speaker 4>natural resources are there in the infrastructure is benefited.

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<v Speaker 1>By adding more solar to the grid.

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<v Speaker 4>But I will say one thing for sure, We're not

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<v Speaker 4>going to go down the road of Germany. You know,

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<v Speaker 4>they spend half a trillion dollars, They more than doubled

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<v Speaker 4>their price of electricity.

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<v Speaker 1>They actually shrunk the total.

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<v Speaker 4>Amount of electricity the country produces by about twenty percent,

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<v Speaker 4>and their industry is fleeing the country. That's the path

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<v Speaker 4>the United States was starting to go down.

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<v Speaker 1>But that's the wrong path.

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<v Speaker 5>So, if I'm hearing you correctly, there is a role

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<v Speaker 5>for things like solar and wind. Yet some of the

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<v Speaker 5>President's executive orders can be seen as clear moves to

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<v Speaker 5>stifle those industries.

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<v Speaker 4>I guve stifle might be the wrong word, but we

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<v Speaker 4>shouldn't subsidize technologies that ultimately just make our energy more

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<v Speaker 4>expensive and less reliable. I don't think you'll see policies

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<v Speaker 4>that continue to.

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<v Speaker 1>Go down that road.

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<v Speaker 2>One other policy, as well, as nuclear, we've seen a

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<v Speaker 2>real resurgence in restarting some nuclear facilities. The previous administration

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<v Speaker 2>was looking towards domestic uranium production, and I'm wondering if

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<v Speaker 2>you would continue down that road, because we need that.

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<v Speaker 2>If nuclear is a big part of that solution.

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<v Speaker 1>Absolutely.

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<v Speaker 4>One of the industries we've lost in this country are

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<v Speaker 4>lost in large part is the ability to produce nuclear

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<v Speaker 4>materials generate nuclear power. Ultimately, we need that infrastructure here,

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<v Speaker 4>we need that mining here, we need that uranium enrichment here,

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<v Speaker 4>we need that to again be building and growing our

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<v Speaker 4>production of nuclear energy. So absolutely, our hope is to

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<v Speaker 4>really start the American nuclear renaissance as fast as we can.

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<v Speaker 2>So then let's talk about some of the legislative ways

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<v Speaker 2>that you feel like the administration can manage this. Because

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<v Speaker 2>the Democrats came out with the IRA what can the

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<v Speaker 2>Republicans come out with that can prevent something more dramatic

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<v Speaker 2>being done down the road under a different administration. What

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<v Speaker 2>specifically can you guys get done.

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<v Speaker 4>Oh, I think there's a lot of things now, some

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<v Speaker 4>of these we've heard talked about for years, but no action,

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<v Speaker 4>just common sense permitting reform. America became this phenomenal industrial

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<v Speaker 4>powerhouse by people building things in America, investing money, taking risks.

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<v Speaker 4>We built a highway system, a pipeline system, an electricity

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<v Speaker 4>grid in plants. We've come to a point in America

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<v Speaker 4>today where it's very easy to stop something from being

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<v Speaker 4>built and it's very hard to build something. We need

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<v Speaker 4>to reverse that, and a lot of that is going

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<v Speaker 4>to be through legislation.

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<v Speaker 3>That is a part of it too.

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<v Speaker 2>I wonder though, in terms of say federal lands, for example,

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<v Speaker 2>like selling federal acreage to the state of Alaska so

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<v Speaker 2>it can do what say Texas does more concrete, smaller

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<v Speaker 2>things like this.

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<v Speaker 4>Yeah, look, all ideas are on the table, and all

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<v Speaker 4>ideas are being discussed. At a minimum, we're going to

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<v Speaker 4>see common sense permitting on federal lands. Of course, this

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<v Speaker 4>president and this administration loves the wilderness and wildlife and

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<v Speaker 4>the ever cleaner air in waters that I've enjoyed throughout

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<v Speaker 4>my lifetime.

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<v Speaker 1>There's no change in any of that.

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<v Speaker 4>But we have so many obstructions that don't allow roads

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<v Speaker 4>to be built on federal land, Roads that could be

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<v Speaker 4>used for logging and wildfire control, roads that could access

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<v Speaker 4>mining and minerals production. So I think we're going to

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<v Speaker 4>see just a return of common sense to use the

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<v Speaker 4>federal lands what they were intended to be used for.

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<v Speaker 3>Now, let's switch to a different part of the administration.

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<v Speaker 2>That's in terms of money being doled out the Department

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<v Speaker 2>of Loans. It was very contentious under the Biden administration

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<v Speaker 2>in terms of the money that was going out the

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<v Speaker 2>door in relation to the IRA. What's your guys's plan.

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<v Speaker 2>Are you going to divert the money to projects that

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<v Speaker 2>you guys like? Are you going to kind of roll

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<v Speaker 2>back funding for projects you didn't like?

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<v Speaker 1>Well, you know, I'm inheriting a portfolio.

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<v Speaker 4>So the first thing I'm doing from the day one

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<v Speaker 4>I walked in the office is to understand what is

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<v Speaker 4>our existing loan portfolio. Who do we have loans out,

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<v Speaker 4>what are the terms under which they are, which projects

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<v Speaker 4>are midway, which projects haven't launched yet. So I've got

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<v Speaker 4>to follow the law and manage what I've inherited. And

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<v Speaker 4>then there's a lot of moneies uncommitted or early on,

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<v Speaker 4>and of course those will be deployed to advance the

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<v Speaker 4>president's agenda of affordable, reliable, secure energy. We just saw

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<v Speaker 4>recently the Ivanpad nuclear power plant, I mean solar power plant,

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<v Speaker 4>sorry about that. You know, a concentrated solar plant out

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<v Speaker 4>in the California Nevada desert right near the state line there.

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<v Speaker 4>That's a one certainly north of a billion dollar loss

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<v Speaker 4>in taxpayer funds for something that's not producing a single

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<v Speaker 4>watt of power today, and during its brief lifetime, it

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<v Speaker 4>produced very unreliable, expensive power.

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<v Speaker 1>We don't want to do things like that.

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<v Speaker 4>We want to focus on American consumers and not subsidizing

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<v Speaker 4>this industry.

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<v Speaker 1>Or that industry.

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<v Speaker 4>We want the marketplace in consumers to pull what energy

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<v Speaker 4>is in demand.

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<v Speaker 5>Of course, but you also have your own priorities. I'm wondering,

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<v Speaker 5>would you cancel loans that have already been.

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<v Speaker 1>Doled We will follow the laws.

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<v Speaker 4>So that's what I'm doing right now is rigorously looking

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<v Speaker 4>at what is the status of those loans, what is

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<v Speaker 4>the status of those projects, and no things that we

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<v Speaker 4>inherit that are half pregnant that are going on, we

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<v Speaker 4>will continue to honor the law.

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<v Speaker 5>Mister Secretary, I want to ask you about the SPR

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<v Speaker 5>the strategic Petroleum Reserve. President Trump has vowed to refill

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<v Speaker 5>that quote right to the top. What is the appropriate

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<v Speaker 5>volume for the seven hundred million barrel reserve?

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<v Speaker 4>So look, I'm not going to talk specifics right here,

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<v Speaker 4>but as you just hear right in that name the

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<v Speaker 4>strategic petroleum reserve, that's not the electoral advantage strategic, I

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<v Speaker 4>mean petroleum reserve that we use to drive down energy

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<v Speaker 4>prices around election times. That's not what it's for, right

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<v Speaker 4>The strategic petroleum reserve is things can go wrong, we

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<v Speaker 4>can have a strategic crisis, and we don't want America's consumers,

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<v Speaker 4>in America's military at risk of an energy shortage. So

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<v Speaker 4>we need a robust strategic reserve that makes America ready

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<v Speaker 4>for whatever may come.

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<v Speaker 2>Do you know how much you're going to ask Congress

0:11:57.080 --> 0:12:00.000
<v Speaker 2>for and how fast you can refill it, mister secretary.

0:12:01.000 --> 0:12:04.000
<v Speaker 4>That's being evaluated in discussed right now. So no, I've

0:12:04.040 --> 0:12:06.280
<v Speaker 4>got no scoop or no news to leak on that

0:12:06.360 --> 0:12:06.880
<v Speaker 4>right now.

0:12:06.920 --> 0:12:08.880
<v Speaker 1>But it is a good question you're asking.

0:12:08.960 --> 0:12:11.280
<v Speaker 3>Oh, come on, maake some news of me, and that'd

0:12:11.320 --> 0:12:12.080
<v Speaker 3>be a bunch more fun.

0:12:12.120 --> 0:12:14.320
<v Speaker 2>All right, next time you'll come back and you'll tell us.

0:12:15.080 --> 0:12:18.080
<v Speaker 2>I guess my question is, what's the conversation you're having

0:12:18.120 --> 0:12:20.760
<v Speaker 2>now with say, big oil companies on that. Have you

0:12:20.760 --> 0:12:22.840
<v Speaker 2>been able to start this conversation.

0:12:24.120 --> 0:12:24.959
<v Speaker 1>Now right now?

0:12:25.000 --> 0:12:29.040
<v Speaker 4>I'm looking internally at what's in our department right now,

0:12:29.080 --> 0:12:30.920
<v Speaker 4>what's in our technology.

0:12:30.320 --> 0:12:33.880
<v Speaker 1>Portfolio, and what are the barriers.

0:12:33.320 --> 0:12:35.319
<v Speaker 4>That the government has in place that we can do

0:12:35.360 --> 0:12:38.640
<v Speaker 4>something about. I have not had any dialogues with Big

0:12:38.640 --> 0:12:41.760
<v Speaker 4>Oil or any of the industry players since I've assumed

0:12:41.800 --> 0:12:44.880
<v Speaker 4>my role, not that I won't going forward, but right

0:12:44.920 --> 0:12:47.480
<v Speaker 4>now I'm trying to understand where are the biggest problems,

0:12:47.679 --> 0:12:50.400
<v Speaker 4>how can we get the shortest term biggest wins.

0:12:50.679 --> 0:12:52.920
<v Speaker 5>Yeah, well, it seems like everyone in is during that

0:12:53.040 --> 0:12:55.760
<v Speaker 5>right now, trying to assess the situation. And I'm curious

0:12:55.760 --> 0:12:59.719
<v Speaker 5>whether the members of DOOJE, the squad that's embedded at

0:12:59.760 --> 0:13:04.000
<v Speaker 5>the Department of Energy, have requested access to any classified information.

0:13:06.000 --> 0:13:06.520
<v Speaker 1>They have not.

0:13:07.280 --> 0:13:10.320
<v Speaker 4>And I've met the DOGE team that's at Department of

0:13:10.440 --> 0:13:13.360
<v Speaker 4>Energy and liked them a lot. These are passionate people

0:13:13.800 --> 0:13:17.040
<v Speaker 4>that are coming into like looking very specifically right now

0:13:17.040 --> 0:13:20.079
<v Speaker 4>at the flow of funds going out and the systems

0:13:20.120 --> 0:13:23.480
<v Speaker 4>we use to carry out our basic business functions. How

0:13:23.520 --> 0:13:26.559
<v Speaker 4>can we be smarter and more efficient doing what we do,

0:13:27.000 --> 0:13:29.720
<v Speaker 4>and how can we be very careful to know where

0:13:29.760 --> 0:13:31.959
<v Speaker 4>funds are flowing and where they're not flowing.

0:13:32.200 --> 0:13:34.000
<v Speaker 1>So it's much less intrusive than a.

0:13:33.920 --> 0:13:37.480
<v Speaker 4>Typical corporate audit, but it's giving quick, up to date

0:13:37.559 --> 0:13:40.480
<v Speaker 4>information to help me and the rest of the department

0:13:40.559 --> 0:13:43.480
<v Speaker 4>run more efficiently and be better stewards of the taxpayer,

0:13:43.960 --> 0:13:45.880
<v Speaker 4>taxpayer funds the deal.

0:13:45.960 --> 0:13:48.319
<v Speaker 2>He was quick to say that there's no nuclear secrets

0:13:48.360 --> 0:13:50.360
<v Speaker 2>being given away or anything along those lines, and I

0:13:50.400 --> 0:13:53.080
<v Speaker 2>put that in quotes. But is there a circumstance where

0:13:53.120 --> 0:13:54.960
<v Speaker 2>you would have to turn that over? Is that become

0:13:55.000 --> 0:13:56.600
<v Speaker 2>aware of any of this in any point?

0:13:57.679 --> 0:14:00.640
<v Speaker 4>I've heard nothing about that at all. We did security

0:14:00.720 --> 0:14:04.160
<v Speaker 4>vetting on the small team that we have. They have

0:14:04.280 --> 0:14:07.840
<v Speaker 4>read only access to very limited parts of our systems.

0:14:08.120 --> 0:14:10.960
<v Speaker 4>No one has asked or expressed any interest, and we

0:14:11.000 --> 0:14:14.679
<v Speaker 4>would definitely not share the secrets of our nuclear weapons

0:14:14.720 --> 0:14:18.160
<v Speaker 4>program and our non proliferation and all those efforts.

0:14:17.920 --> 0:14:21.960
<v Speaker 1>That's that's not part of DOGE. This is not a

0:14:22.040 --> 0:14:22.840
<v Speaker 1>reckless effort.

0:14:23.080 --> 0:14:25.760
<v Speaker 4>In fact, it's a very focused and thoughtful effort to

0:14:25.880 --> 0:14:29.720
<v Speaker 4>quickly look for ways to improve how we run the business.

0:14:29.560 --> 0:14:32.400
<v Speaker 5>Right, to streamline things, make things more efficient. We understand

0:14:32.440 --> 0:14:34.640
<v Speaker 5>the purpose there behind OAJ. So I guess the question

0:14:35.200 --> 0:14:38.360
<v Speaker 5>for you, mister secretary, is how lean can the DOE get?

0:14:38.400 --> 0:14:41.640
<v Speaker 1>Then we don't know yet. We don't know yet.

0:14:41.640 --> 0:14:44.440
<v Speaker 4>But if you take an organization that hasn't been carefully

0:14:44.480 --> 0:14:48.360
<v Speaker 4>looked at, are we finding low hanging fruit to reduce

0:14:48.440 --> 0:14:51.640
<v Speaker 4>our expenditures? And deliver the same output. I can say

0:14:51.640 --> 0:14:53.520
<v Speaker 4>that's an unqualified.

0:14:52.920 --> 0:14:54.120
<v Speaker 1>Yes, we are.

0:14:54.600 --> 0:14:56.640
<v Speaker 4>How big those savings are going to be, well, it's

0:14:56.640 --> 0:14:58.360
<v Speaker 4>a little early for that, but they.

0:14:58.240 --> 0:14:59.320
<v Speaker 1>Will be meaningful.

0:14:59.400 --> 0:15:04.280
<v Speaker 4>We will find meaningful savings, savings and efficiencies without any

0:15:04.360 --> 0:15:07.240
<v Speaker 4>degradation of our output. In fact, I think we're going

0:15:07.280 --> 0:15:12.360
<v Speaker 4>to see dramatically different output our our agendas energy addition,

0:15:12.800 --> 0:15:16.120
<v Speaker 4>and I'm taking over for you know, administration. This goal

0:15:16.160 --> 0:15:18.800
<v Speaker 4>was energy subtraction. So I think we're going to see

0:15:19.120 --> 0:15:23.200
<v Speaker 4>far more output and productivity at reduced costs.

0:15:23.480 --> 0:15:24.080
<v Speaker 1>That's the plan.

0:15:24.360 --> 0:15:26.120
<v Speaker 2>I mean, that's what oil companies do, so you are

0:15:26.200 --> 0:15:29.760
<v Speaker 2>very familiar with that way of operating. Mister secretary, before

0:15:29.760 --> 0:15:34.040
<v Speaker 2>we let you go, you mentioned stopping closure of coal plants,

0:15:34.080 --> 0:15:36.400
<v Speaker 2>et cetera. We were talking about nuclear, We're talking about

0:15:36.400 --> 0:15:40.440
<v Speaker 2>the growth of LNG exports, et cetera. What do you

0:15:40.520 --> 0:15:43.480
<v Speaker 2>think in the United States has the most potential to

0:15:43.520 --> 0:15:47.440
<v Speaker 2>be the next big thing, to be the next US shale?

0:15:48.080 --> 0:15:51.000
<v Speaker 4>I mean, well, I think for the you know, in

0:15:51.080 --> 0:15:54.720
<v Speaker 4>the short term, the next big exciting thing is continued

0:15:54.720 --> 0:15:58.480
<v Speaker 4>evolution of shale. I mean, today, over seventy percent of

0:15:58.520 --> 0:16:01.280
<v Speaker 4>the energy consumed in the United States comes from just

0:16:01.360 --> 0:16:04.120
<v Speaker 4>two things, oil and natural gas. Now, one of the

0:16:04.120 --> 0:16:07.000
<v Speaker 4>things I want to do is grow that pie of

0:16:07.080 --> 0:16:11.760
<v Speaker 4>significant contributors, and probably the technology we know of today

0:16:12.240 --> 0:16:16.160
<v Speaker 4>that could most meaningfully grow is nuclear, both these next

0:16:16.200 --> 0:16:21.240
<v Speaker 4>generation small modular reactors. But also keep an eye on fusion.

0:16:21.560 --> 0:16:24.040
<v Speaker 4>I went to college, I went down MIT forty years

0:16:24.080 --> 0:16:28.280
<v Speaker 4>ago to work on fusion energy. We will see positive

0:16:28.440 --> 0:16:33.080
<v Speaker 4>energy liberated from fusion machines in my tenure at the DOE,

0:16:33.600 --> 0:16:37.680
<v Speaker 4>and commercial fusion may not be that far behind these aren't,

0:16:37.720 --> 0:16:39.400
<v Speaker 4>you know, one year two years from now.

0:16:39.440 --> 0:16:42.280
<v Speaker 1>But technology is moving fast, and I think.

0:16:42.400 --> 0:16:45.360
<v Speaker 4>As you look out several years in the future, nuclear

0:16:45.400 --> 0:16:45.760
<v Speaker 4>is going to.

0:16:45.720 --> 0:16:47.360
<v Speaker 1>Be on the rise and add a.

0:16:47.400 --> 0:16:52.400
<v Speaker 4>Lot of affordable, reliable, secure energy to America. It's got

0:16:52.400 --> 0:16:54.520
<v Speaker 4>some ways to go from where we are today, but

0:16:54.880 --> 0:16:57.320
<v Speaker 4>there's a great roadmap there that I'm quite excited about.

0:16:57.720 --> 0:16:59.680
<v Speaker 2>Mister Secretary, Thank you so much. What a great way

0:16:59.680 --> 0:17:01.800
<v Speaker 2>to adend. We really appreciate all the time that you

0:17:01.840 --> 0:17:04.199
<v Speaker 2>gave us today. Let's check back in about fusion. I

0:17:04.280 --> 0:17:06.760
<v Speaker 2>love that we can talk about this. Thank you so much.

0:17:07.040 --> 0:17:09.600
<v Speaker 2>Chris Wright, US Secretary of Energy