U.S. Energy Secretary throws support behind fossil fuels at Houston conference

HOUSTON - Thousands of the world's energy leaders are meeting in Houston this week for the annual CERAWeek conference.

For 43 years, energy leaders from around the world have gathered in Houston for the conference to discuss strategies, ideas and agendas to power the world. 

Much of the talk in recent years has focused on a transition away from reliance on fossil fuels, but, following President Donald Trump's return to the White House, there are changing demands from U.S. leadership.

Energy Secretary on oil and gas

Changing Attitudes:

Among the opening speakers at the week-long conference was U.S. Energy Secretary Chris Wright.

"Anything that adds affordable, reliable, secure energy this administration is in favor of," said Wright.

The statements come at a time when more than 80 percent of the nation's energy needs still come from fossil fuels.

Oil and gas remain the primary choices for the Trump Administration and expanding infrastructure stands in the way and drives prices up.

"You live in Connecticut, Massachusetts, Maine or Vermont, you pay very expensive natural gas prices, very expensive electricity prices and they're right near Pennsylvania: the treasure trove of shale gas. That's infrastructure standing in the way and driving prices up," said Wright.

Wright says renewable sources must make economic sense.

He believes wind-power drives prices up, while solar power is a promising addition to the mix.

Energy Secretary on Electric Vehicles

New policies:

The White House has rolled back requirements and incentives to favor electric vehicles.

Secretary Wright says drivers are still welcome to have them.

"It's against having all American taxpayers paying money, so that mostly wealthy people that buy electric cars can buy them cheaper. It's the distortion of that, and the naive belief that, somehow, these are a huge reducer of greenhouse gas emissions. They simply are not," he said.

CERAWeek Founders on changing conversation

The subtext of this year's conversation, organizers say, is a clear-focus on U.S. policies and actions as energy leaders navigate the changing landscape of powering the world and the decisions that will come from Houston and beyond.

Other topics of conversation this week include the role of artificial intelligence, meeting the enormous power needs of processing data and a rebirth for nuclear power.

READ MORE: Texas looks into expansion of nuclear energy

What they're saying:

"It's a little bit of a wake up call, around the world, realizing that there's competition for capital, and capital is going to go where it can be most productively deployed," says CERAWeek co-founder James Rosenfield, who notes conference discussion has a clear focus on U.S. policies and actions.