WASHINGTON, D.C. – Today, Congressman Bob Latta (OH-05), Chairman of the Subcommittee on Energy, led a hearing titled The Fiscal Year 2026 Department of Energy Budget. “Alongside Secretary Wright, the Committee on Energy and Commerce is working to unleash American energy dominance,” said Chairman Latta. “We need more energy, not less, and today’s hearing reinforced the importance of supporting baseload power sources including oil, natural gas, nuclear power, coal, and hydropower that can secure our grid and help us to meet the energy demands of AI.” Watch the full hearing here . Below are key excerpts from today’s hearing: Congressman Randy Weber (TX-14): “Under President Biden, Mr. Secretary, the Strategic Petroleum Reserve—60 percent of it in my district—has been unbelievably drawn down. It has reached its lowest level since 1983. When President Biden took office, the SPR contained 638 million barrels of oil. Today it contains 375 million barrels, roughly 50 percent less. In his 2025 inaugural address, President Trump made a commitment to refill the SPR. In this Committee's reconciliation title, we authorized $2 billion to conduct repairs to the SPR and buy back 7 million barrels from mandated sales. So do you think the department's plan to refill the SPR will work with what we've done in the reconciliation package?” Secretary Wright: “It's a start, absolutely. The immediate things we need to do is finish the repairs on the Strategic Petroleum Reserve. It was drawn down so quickly, and that causes some damage to the infrastructure itself. So those, those repairs are ongoing and it costs a non-trivial amount of money to repair the SPR. Then we also have to spend some money to offset planned additional sales of oil that were also entered into to reverse those, so we don't shrink the deposits. And then the additional funds will be used to fill it. So yes, I thank you for that funding.” Congressman Troy Balderson (OH-12): “U.S. LNG exports have been a game changer for natural gas producers in Ohio, uh, the state where I represent, as well as our allies around the world. Opponents of LNG exports often push the narrative that exports raise domestic natural gas prices. However, the vast majority of studies showed the opposite, boosting exports increases domestic production, which lowers the price for American consumers. Mr. Secretary, can you talk about the potential of US LNG exports not only for our allies, but how boosting LNG can keep natural gas prices low for the consumers here at home?” Secretary Wright: “Thank you, Representative, I agree very much with your premise. 17 years ago, the United States was the largest importer of natural gas in the world, and we had over 1000 rigs drilling specifically to produce natural gas. Today, that over 1000 rigs is only 100 rigs drilling in the United States for natural gas, and as you pointed out, we've become the largest net exporter of natural gas in the world. This is technology, this is efficiency, and this is infrastructure that gets built to move natural gas at scale, all of those ultimately lower the cost to produce natural gas.” , Congressman John James (MI-10): “In 2024, NERC’s long-term reliability assessments, they stated that the greatest threat to our power grid is our shift to intermittent resources and premature retirements of thermal generation. NERC’s 2024 long-term reliability assessment also projected that the Midcontinent Independent Systems Operator (MISO), which covers my district in Michigan, which will experience a 4.7-gigawatt shortfall by 2028 if current expected generator retirements occur. In your discussions with MISO have they discussed how any current state net-zero policies have contributed to current cost increases to consumers? And expected power shortfalls in the future?” Secretary Wright: “Many people at DOE have been in dialogues with NERC and with MISO about these issues, but I think you hit the nail on the head. We want to reshore manufacturing to Michigan. We want to bring data centers to Michigan. We need to grow the supply of affordable, reliable electricity in Michigan and closing plants, the coal plant, for example, with 15 years less in its average lifetime, closed for political reasons, closed to show virtue signaling that we're going to move away from coal. That's not in the best interest of Michigan ratepayers and Michigan citizens. Yes, utilities get bullied and influenced by state politicians and national politicians that have political agendas around energy that are often not aligned with ratepayers and citizens in those districts.” ###