Energy Secretary Chris Wright said on Thursday that the oil market is discounting President Donald Trump‘s push to produce more crude and gas in the United States.
“We’ve seen a market discounting the fact that clearly it’s going to be easier to produce oil and gas in the United States,” Wright told CNBC’s “Squawk Box” on Thursday. “More supply is going to come, and that’s pushed down prices of oil, gasoline, home heating fuels, everything across the board, that’s a win to the American people.”
U.S. crude oil futures have fallen nearly 14% since Trump took office on Jan. 20. Trump has made energy a central part of his agenda with a focus on increasing oil and gas production. The administration has promised to increase leases on federal lands and waters and expedite the permitting process.
Trump’s tariffs and OPEC policy have been weighing on the oil market in recent weeks as some fear the levies could lead to higher prices and slower economic growth. West Texas Intermediate on March 5 hit an intraday low of $65.22, the lowest since spring 2022, after Trump imposed 25% tariffs on Canada and Mexico. The president subsequently exempted goods that are compliant with the trade pact that governs North America until April 2.
Chevron CEO Mike Wirth and ConocoPhillips CEO Ryan Lance said at an energy conference in Houston last week that they expect U.S. oil production to plateau in the coming years after hitting new records under the Biden administration. Wirth said Chevron is more focused on capital discipline than growing production.
“Chasing growth for growth’s sake has not proven to be particularly successful for our industry,” Wirth said at the CERAWeek by S&P Global Conference. “At some point, you’ve grown enough that you should start to move towards a plateau, and you should generate more free cash flow, rather than just more barrels.”
OPEC+ is also planning to start increasing production in April, gradually bringing back 2.2 million barrels per day to a market that is facing oversupply.
Trump, Wright and Interior Secretary Doug Burgum met with oil and gas executives on Wednesday at the White House. Wright said the administration’s first message was that they intend to work closely with the industry. They no longer have a “scarlet letter on their forehead,” Wright said.
U.S. crude oil prices have risen modestly in recent days as Trump has launched airstrikes on the Houthis in Yemen and vowed to hold Iran responsible for any future attacks by the militant group. West Texas Intermediate was trading at $67.11 per barrel Thursday morning.
Iran is an OPEC member and any escalation in tensions with the country raises fears of supply disruptions. Trump is aiming to drive Iran’s oil exports to zero in an effort to push the Islamic Republic to negotiate a nuclear deal.
UK-based Prolectric hopes to make the thrum of diesel generators a thing of the past with the unveiling of its new three-phase ProCharge battery energy storage system (BESS). The ProCharge is a rugged, compact, skid-mounted generator that combines 12 high-wattage solar panels with a massive battery to deliver up to 45 kVA of power wherever it’s needed.
Packing a massive, 120 kWh li-ion battery pack and designed with everything it needs to seamlessly integrate with (and drastically reduce the runtime of) traditional diesel gensets, the new Prolectric ProCharge BESS hopes to become the backbone of modern, cleaner job sites.
The Prolectric sales pitch isn’t just about replacing one power source with another; it is about creating a smarter, hybrid ecosystem that works in tandem with existing diesel generators, forming a hybrid setup that uses solar-charged batteries as the job site’s primary power source, supplementing them diesel only when absolutely needed. The result is consistent, usable power off the grid while drastically reducing the daily runtime of diesel generators.
Done right, Prolectric integration means sites can achieve significant fuel and emissions reductions (up to 75%, according to the company’s website), without compromising on power reliability or requiring a complete overhaul of their existing energy infrastructure.
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Prolectric ProCharge solar battery system
Prolectric points to a pilot prpject with contractor Kier on the A417 “Missing Link” road project in the UK, where the ProCharge system saved Kier over £32,500 in just five months. Projected annual savings for such a site are estimated to be over £69,000, a figure that makes a compelling business case beyond any sustainability credentials. Even so, that “greed cred” is substantial, with dramatic reduction in diesel consumption translates directly into a substantial cut in carbon emissions and local air pollution, creating a healthier environment for workers and the surrounding community.
Beyond just providing clean power to job sites and portable offices, the ProCharge system is designed as a versatile hub for the electrification of construction machinery itself. With its robust three-phase output, it can directly charge a growing fleet of electric site vehicles, including telehandlers, mini excavators, and all-terrain vehicles.
You’ll have to reach out to Prolectric for pricing, and it’s not yet clear if these are available in the US – but it’s hard to imagine it wouldn’t sell on this side of the pond, as well. Let us know if you agree with that take in the comments.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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The EV-powered Cadillac renaissance continues as the all-new VISTIQ is named the winner of the prestigious 2026 German Car of the Year (GCOTY) award in the “luxury” category, bringing GM’s halo brand one step closer to reclaiming its “Standard of the World” status.
If that reads like a familiar headline, it just means you’ve been paying attention! The 2025 Cadillac LYRIQ won the GCOTY award last year, but this year’s award for the 2026 VISTIQ is especially special, because it’s the first time that any automaker (American or otherwise) has won back-to-back GCOTY awards in the luxury category.
“Cadillac is gaining momentum around the world, driven by our exceptional product portfolio,” said John Roth, vice president, Global Cadillac. “Receiving prestigious recognition like the German Car of the Year award in the luxury category validates that progress. Being the first automaker to win this honor two years in a row in such a significant category is a proud achievement for everyone at Cadillac. It’s especially meaningful to earn this recognition in Germany, which remains one of the most competitive and respected automotive markets, home to many legendary brands. That makes this award all the more special.”
Even special-er
2026 Cadillac Vistiq electric SUV (Source: GM)2026 Cadillac Vistiq interior (Source: GM)2026 Cadillac Vistiq interior three-row seating (Source: GM)2026 Cadillac Vistiq electric SUV (Source: GM)
The GCOTY is awarded by automotive journalists who test and evaluate the most relevant new vehicles released in Germany during the previous 12 months. They look at criteria like design, innovation, everyday usability, performance, and value before selecting winners in five categories – Compact, Premium, Luxury, Performance, New Energy (read: EVs).
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The GCOTY jury was especially impressed by VISTIQ’s combination of exceptional space, premium comfort, high-end materials, and wide range of innovative technologies. With seating for up to seven passengers and pioneering features such as an augmented-reality head-up display, a night-vision system, and a 23-speaker AK2 audio system with Dolby Atmos, the VISTIQ offers a unique blend of characteristics in an all-electric luxury vehicle with everyday practicality. Cadillac’s award was presented on October 13 at a GCOTY gala in Friedrichshafen, Germany.
It’s interesting to note, here, that the Cadillac(s) won the Luxury award against its ICE competition. It’s not in some separate, “special” category for EVs – a fact that for sure has upset some of the powertrain engineers at BMW, Mercedes-Benz, and even GM.
If you’re interested in checking out the cars the Germans decided were the best new luxury offerings for two historic years in a row for yourself, click the links below to experience one at your local Cadillac dealer.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla investing in xAI, Norway going 100% EV, Aptera going public, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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