Oklahoma’s Continental Resources oil and gas company was one of several oil and gas firms whose leaders were to be called Thursday Energy Secretary Chris Wright and Interior Secretary Doug Burgum.
The two leaders were to urge Continental and other fossil fuel firms to increase drilling in an effort to lower oil prices which have been hovering around $100 a barrel until recent days. Brent crude traded at more than $98 a barrel Thursday morning while West Texas Intermediate in the U.S. traded at about $94 a barrel on the New York Mercantile Exchange.
POLITICO reported the White House had invited CEOs of Continental Resources, Exxon Mobil, Chevron, Occidental Petroleum and other majors to join the call.
The White House and Energy Department also didn’t immediately respond, while the Interior Department declined to offer specifics reported POLITICO.
“Out of respect for the significance and oftentimes confidentiality of these discussions, the Department does not have a statement to offer on private meetings,” a spokesperson said in an email.
However, there was a statement from the Trump White House in which the administration explained Burgum and Wright are in “constant communication” with energy leaders.
“Having discussions with oil and gas executives to find ways to increase production is not breaking news – it is a regular occurrence. Since day one, the president has called on companies to ‘DRILL, BABY, DRILL,’” White House spokesperson Taylor Rogers said.
Some months earlier, Continental Resources founder Harold Hamm was among several oil and gas executives invited to the White House for a meeting with President Trump to discuss the President’s call for more drilling. The meeting was prior to the start of the U.S. and Israeli war against Iran, a military decision that led to oil prices climbing from $60 and $70 a barrel to more than $100.
Hamm and others suggested at the time they were not eager to jump on board with increased drilling because of minimal oil prices. The war led to Iran’s shutdown of the Strait of Hormuz where oil tankers pass with loads of crude bound for Europe and Asia. President Trump responded with a naval blockade implemented this week.