Trump does not plan to bar oil or gas exports, say Burgum and Wright

The Trump administration will not restrict U.S. exports of oil or natural gas amid rising prices over the war in Iran, top officials said Thursday.

In identical statements posted on social platform X, Interior Secretary Doug Burgum and Energy Secretary Chris Wright said, “To be clear, the Trump administration has no plan to implement restrictions on oil and gas exports.”

The statements were likely made to assuage industry fears that restrictions could be put in place to combat high energy prices resulting from the war.

The Trump administration has sought both to produce more oil and gas and to export it, arguing that it would be good for the economy to do so.

The U.S. had banned crude oil exports until 2015, when the ban was lifted. U.S. oil production rose dramatically in the 2010s. 

The administration has sought to expand U.S. capacity to export natural gas, meanwhile, by supporting more export terminals.

Burgum and Wright were among officials who were expected to meet with the oil and gas lobby this week. 

Oil prices in particular are surging amid the conflict in Iran, resulting in high gasoline prices. On Thursday, the U.S. national average gas price was about $3.88 per gallon, up about 96 cents from a month prior.