How Fossil Fuels Have Influenced Trump’s Pick for Department of Energy

President-elect Donald Trump has chosen Chris Wright to lead the Department of Energy. Wright’s background in the fossil fuel industry, board membership in a nuclear reactor company, and involvement in geothermal power make him a compelling choice for this role. However, questions remain about how he will manage potential conflicts of interest if approved by the Senate.

One major conflict is with Liberty Energy, a company founded by Wright that focuses on hydraulic fracturing. Holding over $40 million in shares of Liberty, Wright’s ties to the oil and gas industry are significant. Following his nomination, he indicated that he would step down from his positions at Liberty, with the company’s current president taking over.

Federal ethics regulations would require Wright to divest his energy-related holdings within 180 days of confirmation if he becomes Energy Secretary. President Trump could grant him a waiver to retain these investments, a practice seen with past Cabinet members like former Secretary of State Rex Tillerson. Tillerson sold his stakes in Exxon Mobil upon taking office, utilizing tax incentives to minimize financial impacts.

It remains to be seen what steps Wright will take regarding his financial interests. While a Liberty spokesperson deferred inquiries to the Trump transition team, all nominees are expected to uphold ethical standards. Trump himself faces similar challenges, with various business interests that could influence his decision-making as president.

Historically, cabinet members would divest from conflicting assets to avoid questions of impropriety. The issue of conflicts of interest is prevalent in government, as seen with efforts to navigate regulations and maintain transparency. As Wright prepares for his potential role, addressing these concerns will be crucial to his confirmation process.