On Wednesday, March 25th, US Interior Secretary Doug Burgum stated that the ongoing threats faced by ships and pipelines transporting oil, liquefied natural gas, and petroleum derivatives worldwide, particularly in the Strait of Hormuz, highlight the foresight of President Trump’s energy production policies.
The 44th annual S&P Global CERAWeek held at Americas Hilton-Houston saw Burgum addressing S&P Global Vice Chairman Daniel Yergin, asserting that “this strategy was formulated to address this moment.”
The five-day annual energy conference attracted participants from nearly 90 countries, including over ten thousand industry experts, financial analysts, and innovators. Burgum, along with Energy Secretary Chris Wright, EPA Administrator Lee Zeldin, and other key officials from the Trump administration, delivered speeches during the event.
Discussions between Burgum and Yergin ranged from insights on the global energy crisis triggered by the Iran War, potential opportunities in Venezuela, oil and gas development in Alaska, critical mineral partnerships, and the necessity of permit reforms.
Burgum highlighted that since January 2025, President Trump has issued executive orders such as the “National Energy Emergency Declaration” and the “Release American Energy” directive to increase oil and gas production and tap into the “extraordinary resource potential” of Alaska.
He explained that the Trump administration’s goal has always been to end the US’s dependence on “highly insecure supply chains” and develop national resources to promote domestic industry and global exports.
Burgum emphasized, “The core of Trump’s energy dominance strategy lies in energy abundance; it affects the affordability of domestic energy prices, drives economic development, and ensures victories in arms races. Additionally, it pertains to our ability to sell energy to allies, enabling them to avoid buying energy from hostile nations funding wars and terrorism.”
Regarding the blockade of the Strait of Hormuz by Iran, disrupting the transportation of 20% of global oil and liquefied natural gas shipments, Burgum stated that Trump’s strategy is undoubtedly correct.
Burgum spent the entire week in Houston, where he, like others, heard reports about ongoing dialogue between the US and Iranian officials. He found this development “encouraging” but stressed that the President’s energy policy has provided various options for the US government to counter Iran’s ability to use nuclear threats globally.
Facing a terror regime like Iran’s “Hameini”, which has been intimidating the world for 47 years, Trump doesn’t need to procrastinate any longer, according to Burgum. He noted that the “Epic Fury Operation” has significantly brought the entire Middle East and Israel onto the same front. Therefore, the unity of the alliance and the current opportunities have reached unprecedented strength.
Burgum mentioned that Trump approved a raid on January 3, 2026, which resulted in the arrest of Venezuela’s iron-fisted dictator Nicolás Maduro, mitigating Iran’s growing threat in the Western Hemisphere.
He explained, “Venezuela was a hotbed of terror organizations funded by Iran, including Hamas. Deploying Iranian ballistic missiles in Venezuela could potentially reach Houston and even attack Washington, DC. Therefore, US actions once again prove that the world is becoming safer.”
In early March, Burgum and Wright led a delegation of US oil, gas, and mining executives to Caracas, the capital of Venezuela, for lengthy talks with interim president Delcy Rodriguez.
After returning to the US, Burgum expressed enthusiasm, stating that the country is full of potential, which presents remarkable opportunities not only for capital investors but also for talent and local resources.
The potential referred to is that Venezuela hosts the world’s largest proven oil reserves, estimated at around 300 billion barrels of untapped oil, accounting for approximately 17% of global capacity. Venezuela also possesses the world’s seventh-largest natural gas reserves and at least 30 extractable mineral deposits designated as key minerals by the US Geological Survey (USGS).
Burgum described the trip to Venezuela in March as a “windfall.” “There has been no physical transport of precious metals between Venezuela and the US for over 20 years. At the end of our two-day trip, we successfully brought back physical gold worth $100 million, which was sent to the smelter.”
He noted that the Venezuelan people are very friendly and eager for development, emphasizing feeling “very safe” while walking the streets of Caracas. In January, he stated that after years of mismanagement, nationalization of industries, and corruption under socialist rule, Venezuela’s energy sector urgently needs substantial investments.