Chris Wright has been nominated to become the new US energy secretary. Getty Images
Chris Wright has been nominated to become the new US energy secretary. Getty Images
Chris Wright has been nominated to become the new US energy secretary. Getty Images
Chris Wright has been nominated to become the new US energy secretary. Getty Images

Oil and gas are a personal matter for Trump's US energy secretary pick Chris Wright


Alvin R Cabral
  • English
  • Arabic

Donald Trump has set a combative tone for his coming second presidency's policies by nominating veteran oil executive Chris Wright as US energy secretary.

During his election campaign, Mr Trump pledged to maximise America's crude oil production and continued to deny climate change.

Mr Wright, who has been chief executive of Colorado-based Liberty Energy since 2011, seems to fit the job description. He is a vocal supporter of oil and gas development and shares Mr Trump's disputed views on the global climate emergency.

The appointment of Mr Wright still needs to be confirmed by the US Senate, but that appears certain to happen as Mr Trump's Republicans have seized control of the chamber.

The oil executive joins several divisive personalities appointed to the Trump cabinet, the most notable of whom are Matt Gaetz as attorney general and Elon Musk as head of Doge – not the memecoin, but the newly created Department of Government Efficiency.

Career energy leader

Mr Wright graduated with engineering degrees from University of California, Berkeley and Massachusetts Institute of Technology in the 1980s.

His first major career endeavour came in 1992 when he founded Pinnacle Technology in San Francisco, which claims to have "created the hydraulic fracture mapping industry and its innovations [that] helped launch commercial shale gas production in the late 1990s". He was its chief executive until 2006.

In the middle of that stint, in 2000, he became chairman of Texas-based Stroud Energy, an "early shale gas pioneer", a position he would hold until 2006.

It was in 2010 that he joined Liberty as the executive chairman of Liberty Resources. He became chief executive of the group the following year and executive chairman of Liberty Midstream Solutions in 2016. He remains in all three positions to this day.

A 180-degree reversal

If confirmed, Mr Wright will take over from Jennifer Granholm, who has championed tapping renewable energy sources, including wind, solar and nuclear, and transitioning to electric vehicles, an industry the US has heavily supported with government subsidies.

As with his first administration, Mr Trump is lining his cabinet with people who often share his views on disputed issues.

As energy chief, he said, Mr Wright would "be a key leader, driving innovation, cutting red tape, and ushering in a new golden age of American prosperity and global peace".

Mr Trump praised Pinnacle's role in launching the "American shale revolution that fuelled American energy independence, and transformed the global energy markets and geopolitics".

The president-elect is seeking to further boost America's leadership in energy production. The US is the world's largest crude-producing nation, with annual output just under 14.84 billion barrels per day, about a fifth more than Saudi Arabia's, data from Worldometer shows.

This is expected to support US companies and government revenue, and ensure security for the world's biggest energy consumer.

'Impossible without carbon' view

Mr Wright is not afraid to share his contrarian views on climate change. In a video posted on his LinkedIn account, he stresses that climate crisis, energy transition, carbon pollution, clean energy and dirty energy are "five commonly used words around energy and climate that are both deceptive and destructive".

In the same video, his denial is front and centre: "There is no climate crisis and we're not in the midst of an energy transition either."

He also touts the benefits of carbon dioxide, claiming that "humans and all complex life on Earth is simply impossible without carbon dioxide", while lambasting the term "carbon pollution" as "outrageous".

Mr Wright's strong support for crude is also a personal matter: in an emotional podcast posted on Our American Stories in 2020, he said "if not for fossil fuels, I wouldn’t have celebrated my 14th birthday".

Mr Wright was referring to how the energy industry has contributed to the advancement of several key sectors, such as medicine; he was diagnosed with Type-1 diabetes when he was around 13, and argues he would not have lived longer if not for those innovations spurred by energy.

Climate change legitimacy

Scientific information taken from natural sources, such as ice cores, rocks, and tree rings, and from modern equipment, all show the signs of a changing climate.

But in 2017, Mr Trump infamously pulled the US out of the Paris Agreement, which is the foremost global effort to tackle climate change. That was completely reversed in 2021 when President Joe Biden, who defeated Mr Trump in a bitter 2020 election race, rejoined the cause in his first day in office.

Now back in power, Mr Trump has hinted that he plans to, again, pull out of the accords. However, certain corners, including Russia and ExxonMobil chief executive Darren Woods have encouraged him to remain in the group, arguing that instead of going against it, it may be better to make the agreement more efficient.

International action remains too slow to achieve the Paris 2015 goal of limiting the average global temperature rise to not more than 1.5°C above pre-industrial levels, despite the annual meetings between global leaders, owing to politics and other realities. This year is expected to be the hottest on record and would break the 1.5°C limit.

Much remains to be seen on how the second Trump administration will deal with climate change and energy. But one thing is certain: America is poised for another unpredictable four years, which may have significant effects long after that.

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E153hp%20at%206%2C000rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E200Nm%20at%204%2C000rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E6-speed%20auto%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E6.3L%2F100km%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh106%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Results

5pm: Maiden (PA) Dh80,000 (Turf) 2,200m, Winner: Zalman, Pat Cosgrave (jockey), Helal Al Alawi (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,600m, Winner: Hisham Al Khalediah II, Fernando Jara, Mohamed Daggash.

6pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: Qader, Adrie de Vries, Jean de Roualle

6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 (T) 1,600m, Winner: Mujeeb, Fabrice Veron, Eric Lemartinel

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,600m, Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel

7.30pm: Handicap (TB) Dh90,000 (T) 1,600m, Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly

8pm: Handicap (TB) Dh100,000 (T) 1,400m, Winner: Nayslayer, Bernardo Pinheiro, Jaber Ramadhan

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

 

 

UAE finals day

Friday, April 13
Rugby Park, Dubai Sports City

3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins

Monster

Directed by: Anthony Mandler

Starring: Kelvin Harrison Jr., John David Washington 

3/5

 

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Racecard
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'The Woman in the House Across the Street from the Girl in the Window'

Director:Michael Lehmann

Stars:Kristen Bell

Rating: 1/5

MATCH INFO

Osasuna 1 Real Madrid 4
Osasuna: García (14')
Real Madrid: Isco (33'), Ramos (38'), Vázquez (84'), Jovic (90' 2)

Updated: November 17, 2024, 10:58 AM