Oil markets trust Trump in Iran talks, Burgum says

Added: 2026-05-30

[00:00:01].

[00:00:01]THANK YOU SO MUCH, I APPRECIATE IT, SANDRA QUOTE.

[00:00:04]>> Sandra: INTERIOR SECRETARY DOUG BURGUM JOINS US NOW.

[00:00:06]GOOD TO HAVE YOU ON THE PROGRAM.

[00:00:08]YOU'RE STUDYING AT THE WHITE HOUSE, WHERE, BY THE WAY, WE'RE KIND OF WONDERING WHERE THE PRESIDENT IS.

[00:00:13]WE KNOW THAT WE WERE TOLD HE ENTERED THE SITUATION ROOM WHILE AGO.

[00:00:17]WE HAVE NOT BEEN TOLD THAT THAT HAS ENDED.

[00:00:19]BUT HE DID HAVE SOME POLICY MEETINGS.

[00:00:22]DO YOU HAVE ANY UPDATE FOR US ON THE DISCUSSIONS THAT ARE BEING HAD THERE RIGHT NOW?

[00:00:27]>> WELL, WE ARE MEETING WITH THE PRESIDENT SHORTLY AND AS THERE ALWAYS IS WITH PRESIDENT TRUMP.

[00:00:32]MAYBE THERE'LL BE NEWS COMING FROM THOSE MEETINGS.

[00:00:33]I WOULD JUST SAY AGAIN,.

[00:00:36]>> John: OH, GOD.

[00:00:37]>> Molly: IS IN NEGOTIATIONS, AND I THINK THE OIL MARKETS THE TRUST, THE FACT THE PRESIDENT TRUMP IS GOING TO COME OUT WITH A GREAT DEAL, AND THAT'S WHY YOU'RE SEEING THE PRICES WHERE THEY ARE TODAY.

[00:00:49]>> John: MR. INTERIOR SECRETARY, I WANT TO TALK TO YOU ABOUT AMERICA250 BECAUSE THE BEAUTIFICATION PROGRAM IS NOTHING SHORT OF STUNNING.

[00:00:56]THE PRESIDENT POSTED ON SOCIAL EARLIER TODAY THAT THE STRAIT OF HORMUZ, ACCORDING TO ANY DEAL, MUST BE OPEN IMMEDIATELY.

[00:01:03]WITH TRAFFIC IN BOTH DIRECTIONS.

[00:01:04]HOW ABOUT YOU JUST THE PROMISE OF THAT, IS HAVING A PALLIATIVE EFFECTS ON GAS PRICES COME A CURRENT GAS PRICES, ACCORDING TO TRIPLE, BUT $4.39 A GALLON.

[00:01:14]THAT'S DOWN THREE CENTS FROM YESTERDAY WEEK AGO, IT WAS $4.55.

[00:01:18]IF THE STRAIT GETS BACK OPEN AGAIN, HOW QUICKLY DO YOU PREDICT THAT THOSE PRICES WILL FALL FURTHER.

[00:01:26]>> WELL, PRICES ARE ALWAYS GOING TO BE A FUNCTION THAT THE SUPPLY DEMAND.

[00:01:29]I DID HEAR THIS MORNING THERE WAS SOME STATIONS IN NEW JERSEY, AND PENNSYLVANIA THAT HAD ALREADY DROPPED THE PRICE TO 399, AND OTHERS FOLLOWING THAT.

[00:01:37]SO WE'LL HAVE TO SEE WHERE THAT GOES.

[00:01:38]I WOULD SAY WITH THIS PREVIOUS STORY, YOU JUST RAN ABOUT THE SHADOWS LEAD COVER I MEAN, THIS GOES BACK TO THE FAILED SANCTIONS AND THE BIDEN ADMINISTRATION.

[00:01:48]WITH BIDEN COMES THE FAILED SANCTIONS ON RUSSIA, VENEZUELA.

[00:01:50]AND IRAN.

[00:01:51]ALL THREE OF THOSE COUNTRIES.

[00:01:53]THE OIL JUST KEPT FLOWING.

[00:01:54]THEY JUST FOUND DIFFERENT MECHANISMS TO DELIVER IT BUT AND THAT LARGEST, SUCH AS PETROLEUM RESERVE IN THE WORLD AND FAILED SANCTIONS WERE JUST THIS COUNTRY INTO CHINA'S DISCOUNT GAS STATION.

[00:02:08]BUT PRESIDENT TRUMP'S BLOCKADE, WHICH IS ACTIVELY, EFFECTIVELY STOPPING THE FLOW.

[00:02:14]THAT'S REALLY THAT IS PUTTING LEVERAGE IN IMMEDIATE LEVERAGE ON PRESIDENT -- ON IRAN TODAY, AND I SHOULD SAY IRAN.

[00:02:20]IT'S THE IRGC I MEAN, WHAT'S LEFT IS A TERRORIST GROUP WITH A DECLINING OIL FIELD.

[00:02:26]THAT'S WHO'S THERE.

[00:02:28]BUT AGAIN, PRESIDENT TRUMP HAS GOT GREAT LEVERAGE, GREAT NEGOTIATOR, AND I'M POSITIVE HE'S GOING TO COME OUT OF THIS WITH A GREAT DEAL.

[00:02:34]>> Sandra: I MEAN, I'M WATCHING CRUDE OIL.

[00:02:35]WE'VE GOT IT UP, MR. SECRETARY, THE BOTTOM OF OUR SCREEN, THERE ARE JUST THE HOPE THAT THE PRESIDENT EMERGES FROM THE SITUATION ROOM WITH SOME SORT OF ANNOUNCED DEAL.

[00:02:46]OIL PRICES ALREADY DOWN SIGNIFICANTLY THEY'RE DOWN ANOTHER 2% TODAY.

[00:02:51]YOU'RE LOOKING AT $87.36, AND CHANGING AS WE SPEAK.

[00:02:55]I MEAN, IF A DEAL IS ANNOUNCED, AND THIS COMES TO AN END, HOW MUCH FURTHER COULD YOU SEE OIL DROP?

[00:03:02]>> WELL, I THINK WHAT YOU'RE ALSO SEEING REFLECTED IN THOSE PRICES IS PRESIDENT TRUMP'S ENERGY DOMINANCE STRATEGY FROM DAY ONE, HE SAID, WE'RE GOING TO INCREASE SUPPLY FAMOUSLY, HE SAID, DRILL, BABY, DRILL.

[00:03:13]YOU CAN'T DRILL UNLESS YOU DO HAVE THESE SALES.

[00:03:16]TWO WEEKS AGO, IN THE PERMIAN BASES ON FEDERAL LAND.

[00:03:20]LARGEST, THE SALE FOR OVER $4 BILLION IN TOTAL REVENUE COMING IN FROM COMPANIES PAYING FOR THE OPPORTUNITY TO DEVELOP RESOURCES ON PUBLIC LAND.

[00:03:29]THAT'S FOR BRAYLIN.

[00:03:30]THAT'S COMING INTO THE TREASURY FOR THE AMERICAN PUBLIC.

[00:03:35]THAT IS THAT EXCEEDS BY 13 TIMES WHAT THE BIDEN ADMINISTRATION BROUGHT IN FOUR YEARS.

[00:03:40]AND THAT COMES ON THE HEELS OF RECORD SALES ON THE NORTH SLOPE, REALLY STRONG LEASE SALES UP IN THE BUCKET IN NORTH DAKOTA.

[00:03:47]AND SO YOU'VE GOT A PRESIDENT THAT IS OPENING UP THESE LANDS, AND THEN AGAIN, WE INHERITED A 5600 BACKLOG OF PERMITS FOR APPLICATIONS TO DRILL THAT WERE UNPROCESSED BY THE BIDEN ADMINISTRATION.

[00:04:02]JUST IN ONE OF HIS IN NEW MEXICO.

[00:04:04]THE BUREAU OF LAND MANAGEMENT TEARING THROUGH THOSE DROPPING THAT BY 91%.

[00:04:10]SO PART OF THAT 4 BILLION IS THE CONFIDENCE IN PRESIDENT TRUMP, CONFIDENCE IN HIS POLICY, AND CONFIDENCE THAT IF YOU MAKE A LEASE PURCHASE, THAT YOU'RE GOING TO GET A PERMIT TO BE ABLE TO DRILL AND DO THAT SOON.

[00:04:20]ALL OF THAT INCREASES SUPPLY.

[00:04:21]THAT'S WHY THE U.S. IS NOW THE WORLD'S LARGEST OIL PRODUCER.

[00:04:24]THE WORLD'S LARGEST NATURAL GAS PRODUCER, THE WORLD'S LARGEST LNG EXPORT PRACTICE, OR ALL REASONS WHY THE PROGNOSTICATORS WERE WRONG ABOUT THE OIL PRICES ARE GOING TO 200.

[00:04:35]BECAUSE US WAS ADDING SUPPLY.

[00:04:37]THEY WERE ADDING VALUE TO THE MARKET.

[00:04:39]NOT BURNT ON TOP OF OUR PRODUCERS, PRESIDENT TRUMP'S ENERGY DOMINANCE POLICY IN ACTION, AND AGAIN, THAT'S LOWERING THE PRICE FOR AMERICA, CREATING GREAT JOBS AND THE OIL AND GAS INDUSTRY, AND OF COURSE, WE DO IT CLEANER, BUT BETTER, SAFER, AND SMARTER THAN ANYWHERE ELSE IN THE WORLD, AND SO PEOPLE THAT CARE ABOUT THE ENVIRONMENT SHOULD WANT IT ALL HAPPENING IN THE U.S.. >> John: SPEAKING OF THE ENVIRONMENT.

[00:05:00]THE ENVIRONMENT HERE IN D.C. HAS BEEN CHANGING SUBSTANTIALLY BECAUSE AMERICA 250 IS COMING UP.

[00:05:05]THE INTERIOR DEPARTMENT HAS HAD A LOT TO DO WITH THAT.

[00:05:08]YOU HEARD THEY ARE AT A RIBBON CUTTING CEREMONY YESTERDAY LITERALLY.

[00:05:13]FROM THE REDEDICATION OF THE BIG FOUNTAIN OUT THERE.

[00:05:16]TAKE A LOOK AT WHAT IT WAS LIKE IN 2024 VERSUS NOW.

[00:05:20]I MEAN, IT WAS A DISASTER TWO YEARS AGO, BUT NOW KIND OF LOOKS LIKE THE TREVI FOUNTAIN, AND THEN, OF COURSE, WE HAD THE BIG PROJECT, THAT REFLECTING POOL.

[00:05:29]AT LAST, BECAUSE THE WASHINGTON POST DID A BIG ARTICLE OF THAT REFLECTING POOL.

[00:05:33]THE ARTICLE WAS 1400 WORDS LONG.

[00:05:37]IT TOOK THEM 1324 WORDS TO FINALLY GET TO A POOL GUY.

[00:05:42]WHO ADMITS THAT IT'S A GREAT CHOICE AS GUY CALLS HIMSELF THE SWIMMING POOL.

[00:05:47]STEVE SAID THE FOLLOWING.

[00:05:49]ABOUT THE REFLECTIVITY OF THE NEW BOTTOM COATING AND WHAT IT WOULD MAKE IT LOOK LIKE.

[00:05:53]IT'S GOING TO LOOK MUCH MORE LIKE A SHARP AND ACCURATE REFLECTION VERSUS THE ORIGINAL GRAY COLOR.

[00:05:59]BUT YOU'RE GOING TO SEE IS A HIGHER CONTRAST TO THE LIGHT OF THE SKY AND THE CLOUDS.

[00:06:04]THEY WAITED UNTIL NEARLY THE END OF THE ARTICLE TO SAY, COME HERE, IT LOOKS LIKE A REALLY GOOD IDEA.

[00:06:10]>> WELL, AND AGAIN, CAME FROM PRESIDENT TRUMP.

[00:06:12]AMERICAN FLAG, BLUE.

[00:06:14]HE WAS TRYING TO OPTIMIZE FOR IT IS CALLED THE REFLECTING POOL FOR A REASON.

[00:06:19]8 ACRES, ONE OF THE LARGEST POOLS IN THE WORLD.

[00:06:22]AND IT'S GOING TO BE SPECTACULAR WHEN IT'S DONE.

[00:06:24]BUT UNDER PRESIDENT TRUMP, AGAIN, SIGNED AN EXECUTIVE ORDER, MAKE D.C. SAFE AND BEAUTIFUL FOR THE GREATEST COUNTRY IN THE WORLD.

[00:06:30]LET'S HAVE THE SAFEST AND MOST BEAUTIFUL CAPITAL IN THE WORLD.

[00:06:33]THE PROJECTS ARE GOING ON LIKE THE ONE THAT YOU DISCUSSED AT COLUMBUS CIRCLE, COMPLETE 180-DEGREE DEGREE CHANGE FROM WHAT WE INHERITED IN THE BIDEN ADMINISTRATION.

[00:06:43]THAT'S HAPPENED.

[00:06:44]THAT'S ONE OF 22 FOUNTAINS THAT ARE BEING RESTORED.

[00:06:48]OVER 48 MONUMENTS AND STATUES BEING RESTORED COME RE GILDED.

[00:06:52]ALL THE PARKS, TRIANGLE, CIRCLE PARKS AROUND THE CITY BELONG TO THE NATIONAL PARK SERVICE.

[00:06:58]THE TEAM THERE HAS DONE AN INCREDIBLE JOB, IF THAT'S PART OF THE DEPARTMENT OF INTERIOR BUT AGAIN, KUDOS TO EVERYTHING THAT EVERYBODY'S DOING.

[00:07:04]THIS CITY IS GOING TO LOOK BETTER THAN IT EVER HAS, AS WE HEAD INTO THE CELEBRATION OF THE USA AND THE FREEDOM TO 50.