Energy secretary: Strait of Hormuz will reopen 'sometime this summer at latest'
Key takeaways
- CNBC s Brian Sullivan spoke with Wright at a new liquefied natural gas facility in Cameron, La., on Squawk Box.
- The secretary said that if Iran continues to hold the world economy hostage, the United States military will force the reopening of the Straits of Hormuz, but that s not trivial to do.
- We ve done the early steps on that, but [what s] better is to get a deal and not have to use military force, Wright added.
Why this matters: political developments that affect policy direction and public trust.
CNBC s Brian Sullivan spoke with Wright at a new liquefied natural gas facility in Cameron, La., on Squawk Box. Wright said that the U.S. is continuing to ramp up U.S. natural gas exports with 2.5 billion cubic feet of gas export (bcf) capability being added a day despite having lost 10 bcf a day due to the temporary interruption of the Strait of Hormuz s closure.
Now, traffic will be flowing through the Straits of Hormuz, you know, as soon as we can, but certainly sometime this summer at the latest, Wright continued, later adding that a deal could be struck at the earliest in the next few days.
The secretary said that if Iran continues to hold the world economy hostage, the United States military will force the reopening of the Straits of Hormuz, but that s not trivial to do.