US wants energy dominance regardless of what happens to oil prices, deputy energy secretary says

FAN Editor

US Deputy Energy Secretary Dan Brouillette speaks during a press conference with the German Economy Minister on February 12, 2019 at the Economy Ministry in Berlin.

ODD ANDERSEN/AFP/Getty Images

The U.S. deputy energy secretary told CNBC Monday that America wants to achieve energy dominance regardless of what happens to oil prices.

“Our energy policy is not designed to affect price, that’s not we do for a living. And yet it does because of our production numbers,” Dan Brouillette told CNBC’s Hadley Gamble at the World Energy Congress in Abu Dhabi.

“The president has an ‘all of the above’ strategy. He talks often about energy dominance and the world often asks: what does that mean? It just simply means that we are going to produce as much energy as we can, as cleanly as we can and as affordably as we can.”

“And whatever happens to the world price of oil, whatever happens to the world price of whatever, electricity, it doesn’t really matter, then so be it,” Brouillette said.

International benchmark Brent crude traded at $62.12 Monday morning, up around 0.9%, while U.S. West Texas Intermediate (WTI) stood at $57.17, up more than 1.1%.

This is a breaking news story, please check back later for more.

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