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Meet Liberty Energy CEO Chris Wright.

Donald Trump has selected another stalwart of the fossil fuel industry to lead the Department of Energy. On Saturday, the president-elect put forward Chris Wright, CEO of the oilfield services firm Liberty Energy and a major Republican donor, for the job.
Wright “has worked in Nuclear, Solar, Geothermal and Oil and Gas. Most significantly, Chris was one of the pioneers who helped launch the American Shale Revolution that fueled American Energy Independence, and transformed the Global Energy Market and Geopolitics,” Trump wrote on Truth Social Saturday. In a post on X, Wright said that he was “honored and grateful” for the opportunity.
Wright had been endorsed by several figures from the fossil fuel industry in the days leading up to Trump’s official announcement, including Oklahoma oil and gas billionaire Harold Hamm, a major Trump donor and informal advisor.
Trump’s first Secretary of Energy, former Texas Governor Rick Perry, reportedly thought the Department dealt more with, well, energy than it does in reality. While under current Secretary of Energy Jennifer Granholm it has become a locus of climate change and green energy policy, the sprawling department oversees the nation’s nuclear weapons stockpile, its national laboratories, and its energy efficiency standards, in addition to a variety of energy programs. The Biden administration has super-sized the Department’s Loan Program Office, which has gone on to offer billions in funding to renewable and non-emitting energy infrastructure projects across the country.
Granholm and the Biden White House put a distinctive stamp on the Department of Energy, letting the charter for a coal advisory group expire expire and renaming the Office of Fossil Energy to the Office of Fossil Energy and Carbon Management, reflecting the administration’s major investments in carbon capture technology and infrastructure over the past four years.
Wright, on the other hand, is a deep skeptic of the idea that there’s a climate crisis or energy transition happening at all. To wit: “There is no climate crisis, and we’re not in the midst of an energy transition,” Wright said in a video posted to LinkedIn last year. He also wrote that “climate crisis, energy transition, carbon pollution, clean energy, and dirty energy,” were “Five commonly used words around Energy and Climate that are both deceptive and destructive.”
“Carbon dioxide does indeed absorb infrared radiation, contributing to warming,” Wright said. “But calling carbon dioxide ‘pollution’ is like calling out water and oxygen, the other two irreplaceable molecules for life on earth.”
For Republican administrations, the Department of the Interior is considered to be the plum job for energy policy, as the office controls leasing of public lands for energy exploration and extraction. Last week, Trump nominated North Dakota governor Doug Burgum to lead that department, as well as head the new White House Council of National Energy, which “will consist of all Departments and Agencies involved in the permitting, production, generation, distribution, regulation, transportation, of ALL forms of American Energy,” Trump wrote on Truth Social. Wright will also be a member of the Council, Trump said.
“This team will drive U.S. Energy Dominance, which will drive down Inflation, win the A.I. arms race with China (and others), and expand American Diplomatic Power to end Wars all across the World,” Trump wrote.
To the extent an energy policy can be inferred from Trump’s post, it’s likely to be a version of “all of the above,” with barriers lifted for fossil fuel production, along with (perhaps) some support for certain forms of renewable or non-carbon-emitting energy, or at least regulatory relief.
Geothermal, for instance, has long had bipartisan support in Congress, and could be a relative winner among non-carbon-emitting power sources under a Republican trifecta. The industry draws on technology and people from the oil and gas sector, and the location of high-quality geothermal resources in western states controlled by Republicans gives lawmakers reason to support the growing industry. Liberty Energy is also an investor in Fervo Energy, one of the leading enhanced geothermal startups.
“I cannot imagine a nominee with more technical and commercial understanding of EGS and the need to deploy geothermal for clean, firm power. Congrats, @ChrisAWright, looking forward to working with your team,” Ben Serrurier, the head of government affairs and policy at Fervo, wrote on X.
But fossils will no doubt come first. One of Wright’s first priorities will likely be to unblock the federal permitting process for new liquefied natural gas export terminals. The Biden administration formally paused approvals of new LNG export facilities earlier this year to study the effect of such exports on global greenhouse gas emissions. The move set off a cascade of recriminations and opprobrium that culminated in the pause being overturned in court.
Granholm told reporters at the annual United Nations climate conference on Friday that the department’s research on the impacts of LNG exports should be released by the end of the year, which “could set the stage for the fossil fuel-friendly Trump administration’s LNG policy being hamstrung by a Biden-era report,” Bloomberg reported. A group of Republican members of the House Committee on Energy and Commerce released a letter to Granholm on Friday saying that they were “particularly troubled” by this notion.
Wright may also end up tangling with environmental activists over energy efficiency, as did Perry’s successor and Granholm’s predecessor Dan Brouillette. Climate groups sued Brouillette for not updating standards as set out by the Energy Policy and Conservation Act. Trump has long mocked such efficiency standards, especially those for water efficiency.
Wright quickly won plaudits from conservative environmental and energy groups, however. “From nuclear to solar to geothermal to oil & gas, Chris Wright has been a pioneer of American energy,” Christopher Barnard, the president of the American Conservation Coalition, wrote on X. “Chris Wright + Doug Burgum is literally the dream team.”
Notably, there’s no specific mention of coal in the Wright announcement, other than a reference to “ALL forms of American Energy.” During his tenure as Secretary of Energy, Perry proposed to help reverse the mass shutdown of coal plants that had begun during the Obama administration and continued throughout the Trump years, but his plan was in turn shut down by the Republican-majority Federal Energy Regulatory Commission.
Also notably absent from the announcement was any mention of Trump’s least favorite form of renewable energy: wind.
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How China emerged the victor of the war with Iran.
The Strait of Hormuz appears to maybe be opening up eventually — and the price of oil is collapsing.
Iranian Foreign Minister Abbas Araghchi said Friday morning that the waterway was “completely open,” shortly before President Trump declared on Truth Social that the strait was “COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE,” though the president also clarified that “THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN.”
Eurasia Group analyst Greg Brew cautioned me that, as was the case when Trump announced a ceasefire last week, the actual status of the Strait of Hormuz has remained unchanged. Iran’s position is that traffic from non-hostile countries can go through the strait as long as ships coordinate with its government and follow a route that hugs its coastline; the U.S. has insisted for over a week that the strait is open, and has been blockading traffic from Iran.
That’s not to say today’s announcement was meaningless. “There has been movement from both the U.S. and Iran on the issues that matter — namely, Iran’s nuclear program,” Brew told me. Meanwhile, “there’s a lot of ambiguity, and there’s a lack of clarification on the status of the strait. The upshot of that is shippers don’t feel secure in using the strait.”
As for the mutual statements, Brew said they were a sign that “both sides have acknowledged a mutual interest in having the strait reopen.” The market, meanwhile “is responding to the positive vibes that the president and, to some extent, the Iranians are putting out regarding the status of Hormuz moving forward.” Oil prices fell substantially Friday, with the West Texas Intermediate benchmark price down 10.5% to around $85 per barrel.
While the final disposition of the conflict between the U.S. and Iran — and thus the flow of traffic through the Strait of Hormuz — remains unclear, the global energy system may be at the beginning of the end of the crisis that started at the end of February.
This doesn’t mean an immediate return to the status quo from the beginning of the year, however, which saw a glut of fossil fuels depressing global prices. Several hundred million barrels of oil that would otherwise have been pumped in the Persian Gulf remain in the ground after producers shut in production, temporarily suspending operations to protect their infrastructure and minimize their exposure to the conflict. This has created what Morgan Stanley oil analyst Martijn Rats called an “air pocket” in the market — and anyone who’s watched a hospital drama knows how dangerous an air pocket can be.
As happened with Russia’s war against Ukraine, the consequences of the Hormuz closure cannot simply be undone. That leaves countries — especially poorer countries dependent on fossil fuel imports — with a stark choice about how to fuel their future economic growth. The crisis may have tipped the balance towards renewable and storage technology from China over oil and natural gas from the Persian Gulf, Russia, or the United States.
“There is a huge shift in total supply available in the fossil system,” Jeremy Wallace, a professor of China studies at Johns Hopkins University, told me. “I think the fossil system has been demonstrated to be vastly less reliable, riskier than it was seen to be in February.”
For gas specifically, recovering from Iranian attacks on Qatar could take years, not just the weeks and months necessary to clear the backlog in the Persian Gulf.
That will serve to reinforce China’s dominant position as a producer and exporter of solar panels, batteries, and electric vehicles. “It’s hard for me to not see this as a huge win for Chinese firms that produce these products, upstream and downstream in those supply chains — as well, arguably, for the Chinese government itself,” Wallace said.
There’s already been some institutional movement away from fossil fuel investments and towards clean energy as well. A Vietnamese conglomerate, for instance, has proposed scrapping a planned liquified natural gas terminal for a solar and renewables project, while the county has also signed a deal with Russia to build the region’s first operational nuclear plant. And even as electric vehicle sales in China have slowed down, the share price of the battery giant CATL has surged since the war began despite rising costs of metals due to disruptions of chemicals necessary for refining from the closure of the strait.
Kyle Chan, a fellow at the Brookings Institution who studies Chinese technology and economic policy, summed up the situation by calling the energy shock of the war “the best marketing program you could possibly imagine for China’s clean tech sector.”
It’s not just China’s technology that is likely to be more attractive in light of this latest energy crisis, but also its energy model, which fuses energy security and decreasing dependence on imported fossil fuel (thanks, in part, to domestic coal supplies and hydropower) with a vast buildout of renewables and nuclear energy.
“The way that China has weathered the Iran war energy shock so far has really validated its strategy of investing heavily in alternative energy,” Chan said.
Going forward, Asian countries will have to decide on future investments in energy infrastructure, especially the extent they want to build out infrastructure for importing and processing oil and especially liquefied natural gas.
While the United States, especially under Trump, is more than happy to sell LNG to any taker, the fact that oil and LNG are global markets could make countries leery of depending on it at all if it’s risky to supply and price shocks, even if U.S. exports are dramatically less likely to get bottled up in the Gulf of Mexico.
“It seems like once in 100-year storms happen every year. Now it feels like that in the fossil energy system,” Wallace told me. “We’ve been talking about the crises of the 1970s for 50 years afterwards. We don’t need to be talking about those now.”
The 1970s saw major investments in non-oil energy generation, especially nuclear power, in Japan and France and large scale investments in energy efficiency. Today, Wallace said, “the alternatives are much more attractive.”
“In the months to come, I think we will see a lot of bottom up industrialists and probably wealthy consumers in Southeast Asia and South Asia who are going to vote for energy security of their own as best they can,” he told me, pointing to the mass adoption of solar in Pakistan since 2022.
But Asian countries embracing renewables and storage will not have entirely freed themselves from geopolitics. While batteries, solar panels, and electric vehicles do not require a flow of fuel from abroad the same way oil and gas infrastructure does, China has shown itself to be perfectly willing to use economic leverage to achieve political ends.
Relations between China and Japan, the second largest Asian economy and a close American ally, quickly devolved into crisis following the ascent of Sanae Takaichi to Prime Minister of Japan in October, after the new leader suggested that if China were to blockade Taiwan, it would constitute “an existential threat.” China responded with an array of economic punishments, including discouraging Chinese tourism in Japan and restricting shipments of rare earths elements and magnets.
China’s economic coercion, Chan told me, “reminds everyone that while you can buy all this really affordable, highly scaled-up clean energy equipment, China has been able to and has been willing to leverage that supply chain dominance in certain ways. There’s a degree of trust that you can’t really make up for.”
Countries embracing Chinese energy technology will “always have to have a Chinese-hedging discount in the back of their minds,” he said.
On Breakthrough Energy Ventures’ quantum computing investment, plus more of the week’s biggest money moves.
It’s been a busy week for funding, with several of the most high-profile deals featured in our daily AM newsletter, including Slate Auto’s $650 million fundraise for its stripped-down electric truck and Rivian’s partnership with Redwood Materials to repurpose the electric automaker’s battery packs for grid-scale storage.
These are clearly companies with direct decarbonization implications, but one of the week’s other biggest announcements raises the question: Is this really climate tech? That would be quantum computing startup Sygaldry, which recently nabbed $139 million in a round led by Breakthrough Energy Ventures to build quantum AI infrastructure. Huh.
Elsewhere in the ecosystem, the climate connection is a little more straightforward, with new funding for advanced surface materials designed to improve insulation and fire-protection, capital for microgrids that can integrate a diverse mix of generation and storage assets, and federal support for next-generation geothermal tech.
Quantum computing offers a futuristic paradigm for high-powered information processing and problem solving. By leveraging the principles of quantum mechanics, these systems operate in fundamentally different ways than even today’s most advanced supercomputers, encoding information not as ones and zeros, but as quantum units called “qubits.” Naturally, there is significant interest in applying this novel tech — which today remains error-prone and not ready for prime time — to artificial intelligence, with the aim of exponentially accelerating certain training and inference workloads.
Perhaps less intuitively, however, these next-generation computers are now viewed, at least by one prominent venture capital firm, as a key climate technology.
This week, quantum computing startup Sygaldry raised a $139 million Series A round led by Bill Gates’ climate tech VC firm Breakthrough Energy Ventures to build “quantum-acclerated AI servers” for data centers, which could reduce the cost and power required to train and operate large models. “The AI industry is advancing faster than ever and needs a breakthrough in performance per watt,” Carmichael Roberts, Breakthrough Energy Ventures’ chief investment officer said in the press release. “Sygaldry’s vision for bringing quantum directly to the AI data center has the potential to deliver exactly that, bending the cost and energy curve at the moment it matters most."
Certainly Sygaldry’s ultra-high-powered computers could help lower the energy intensity of AI workloads, but that is no guarantee that it will reduce AI and data center emissions overall. As was widely discussed when the Chinese AI firm DeepSeek released its cheaper, more energy-efficient model early last year, efficiency gains could reduce emissions in the sector at large, but they are perhaps just as likely — or some argue even more likely — to drive greater proliferation of AI across a wide array of industries. This unfettered growth could offset efficiency gains entirely, leading to a net increase in AI power demand.
Buildings account for nearly 37% of domestic energy consumption, with heating and cooling representing the largest share of that load. But while energy efficiency strategies typically focus on upgrading insulation or adjusting the thermostat, there’s another approach — essentially painting the roof with sunlight-reflecting material — that has the potential to reduce AC demand and thus cut a building’s cooling-related energy use by up to 50%.
Just such a “paint” is one of the unique ceramic coatings developed by NanoTech Materials, which this week raised a $29.4 million Series A to scale its infrastructure materials business. Beyond roofing, the company also offers a fire-protective coating for wooden infrastructure such as utility poles, fences, highway retaining walls, and other transportation assets, as well as an insulative coating for high-heat industrial equipment such as pipes and storage tanks designed to slow heat loss and prevent burn risk.
“Today’s built environment demands materials that don’t just meet code, but can also outperform the extreme conditions we’re now facing,” said D. Kent Lance, a partner at HPI Real Estate Services & Investments, which led the Series A. Nanotech Materials currently operates a manufacturing facility in Texas and plans to use this new capital to further expand its operations as it conducts market research for its various product lines.
Interconnection delays aren’t just a data center problem. Industrial developers working on everything from real estate and electric vehicle charging to manufacturing and aviation are also struggling to get timely and reliable access to power when building or expanding their operations. Enter Critical Loop. This modular microgrid company is building battery energy storage systems that can integrate batteries of varying sizes and specifications with a variety of power sources, including onsite solar, diesel generators, and grid power.
This week, the startup announced a $26 million Series A round, bringing total funding to $49 million across all equity and debt financing. Critical Loop’s approach combines a software platform with proprietary hardware — what it calls a “combiner” — which reduces the need for the many custom components typically required to connect a diverse mix of batteries and generation sources. “There’s a lot of power problems that are not getting solved because of limitations on an understanding of how to integrate different systems at a site,” Critical Loop’s CEO Balachandar Ramamurthy, told me last month.
The company’s initial product is a modular single-megawatt battery system that can be transported in shipping containers for rapid deployment in capacity-constrained locations. To date, Critical Loop has deployed about 50 megawatt-hours of microgrid assets, with plans to scale to over 100 megawatt-hours by year’s end.
It’s been another exciting week for one of the few bipartisan bright spots in clean energy — geothermal development. My colleague Alexander C. Kaufman reported in this morning’s AM newsletter that the AI-native geothermal company Zanskar secured $40 million through one of the first development capital facilities for early-stage geothermal development, and now the technology has secured fresh capital from the fickle U.S. Department of Energy. Today, the DOE announced a $14 million grant to support an enhanced geothermal demonstration project in Pennsylvania that will convert an old shale gas well into a geothermal pilot plant.
Conventional geothermal systems depend on a highly specific set of subsurface conditions to be commercially viable, which includes naturally occurring underground reservoirs where fluid flows among hot rocks. By contrast, developers of enhanced geothermal systems effectively engineer their own reservoirs, hydraulically fracturing rock formations and then circulating water through those man-made fractures to extract heat that’s then used to generate electricity. A number of well-funded startups are advancing this approach using drilling techniques adapted from the oil and gas industry, such as Fervo Energy — which has an agreement with Google to supply electricity for its data centers — and Sage Geosystems, which has a similar tie-up with Meta.
“As the first enhanced geothermal systems demonstration site located in the eastern United States, this project offers an important opportunity to assess the ability of such systems to deliver reliable, affordable geothermal electricity to Americans nationwide,” Kyle Haustveit, the Assistant Secretary of the Hydrocarbons and Geothermal Energy Office, said in the DOE release. If successful, the Energy Department says the project could provide a replicable model for scaling the deployment of enhanced geothermal systems across a broader range of geographies.
This week, the nonprofit XPRIZE organization announced that it’s partnering with Amazon to launch a new global competition focused on critical mineral circularity — redesigning how minerals such as lithium, cobalt, and nickel are recovered, processed, and reused. Demand for these minerals is projected to quadruple by 2040, but their supply chains remain largely concentrated in China, especially across refining, processing, and battery manufacturing.
The competition aims to catalyze breakthroughs in mineral recovery and recycling, materials solutions, and lower-impact extraction methods. It’s not yet open to submissions as organizers are still seeking philanthropic and corporate funding before entrepreneurs, startups, and research teams can submit their ideas for consideration. XPRIZE has been running challenges for three decades now, with past competitions revolving around carbon removal, adult literacy, and lunar exploration.
Current conditions: A broad swath of the United States stretching from South Texas to Chicago is being bombarded by the Central U.S. with severe storms and more than two dozen tornadoes so far • The thunderstorms pummeling Puerto Rico and the U.S. Virgin Islands are expected to stretch into the weekend • Kigali is also in the midst of a days-long stretch of heavy storms, testing the Rwandan capital’s recent wetland overhaul.
SunZia Wind, the largest renewable energy project of its kind ever built in the U.S., has started generating electricity, nearly capping off a two-decade effort to supply Californians with wind power generated in New Mexico. The developer has begun testing the project’s 916 turbines ahead of planned full-scale commercial operations later this quarter, unnamed sources told E&E News. The project includes 3.5 gigawatts of wind and 550 miles of transmission line to funnel the electricity west from the desert state to the coast. “The impact is already evident,” the newswire wrote. “California broke its record for wind generation eight times in the last four weeks.”
When Heatmap’s Robinson Meyer visited SunZia’s construction site in August 2024, he observed that, once it started running at full blast, the project would “generate roughly 1% of the country’s electricity needs.” Its success in the face of the Trump administration’s attacks on wind could “lay the model” for a new paradigm in which “clean energy buildings and environmental protectors work together to find the best solution for the environment and the climate,” Rob wrote. “We will need many more success stories like it if America is to meet its climate goals — 99 more, to be exact.”
The U.S. Senate voted 50-49 on Thursday to repeal a mining ban on land near the Minnesota’s Boundary Waters Canoe Area Wilderness, declaring what Heatmap’s Jeva Lange called “open season” on public lands. In what the public lands news site Public Domain called “an unprecedented use of the Congressional Review Act,” the vote slashes protections for the iconic nature preserve. Inspiring even fiercer political pushback is the fact that Republicans championed the effort largely to benefit an overseas corporation: Twin Metals Minnesota, a subsidiary of the Chilean mining conglomerate Antofagasta, which has for years sought to establish a copper-nickel mine on national forest land near the wilderness area. “The Boundary Waters belong to everyone,” Julie Goodwin, a senior attorney at Earthjustice, said in a statement. “They should be protected and enjoyed by all, not jeopardized to benefit a wealthy foreign company.”
At the same time, global demand for both nickel and copper are surging — and a successful effort to decarbonize the world economy through greater electrification will require a lot more of both metals.
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The good news: The Department of Energy is allowing the Direct Air Capture hub program started under the Biden administration to move forward. In documents submitted to Congress this week, the agency listed as approved the up to $1.2 billion the program awarded to two projects: Occidental Petroleum’s South Texas DAC Hub, and Climeworks and Heirloom’s joint Project Cypress in Louisiana. As Heatmap’s Emily Pontecorvo noted: “This fate was far from certain.” After the Energy Department cut funding for 10 of the original 21 projects last fall, a leaked list of projects suggested the Louisiana and Texas hubs would be targeted in a second wave of rescissions. The bad news: Last week, Rob had a scoop that Microsoft — whose carbon removal buying made up roughly 80% of the industry — was pausing its purchases. And as he wrote yesterday, even if it’s just temporary, the pause will ripple through the nascent market.
Other technologies that once seemed like science fiction are, in fact, moving forward. In an exclusive for Heatmap, I reported that Clean Core Thorium Energy, a Chicago-based company designing thorium fuel bundles that works in existing reactors, inked a deal to manufacture its first four units. In addition to assembling the bundles, the Canadian National Laboratories will supply the small amount of a special kind of uranium fuel needed to be blended into Clean Core’s mix and that serves as a spark plug for the reaction.
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Last October, the Energy Department asked the Federal Energy Regulatory Commission to set rules for patching data centers, advanced factories, and other large loads onto the grid. The move, as Utility Dive reported at the time, sparked controversy over whether it represented a Washington power grab given that the landmark Federal Power Act gives states jurisdiction over retail electricity interconnections. Now FERC has said it plans to respond. On Thursday, Robin Millican, a researcher at Columbia University’s Center on Global Energy Policy, posted on X that FERC announced a notice of intent to act on the Energy Department’s request, with a ruling expected in June. “Good,” she wrote. “Ensuring interconnection costs from data centers, advanced manufacturing, and big electrification projects aren’t passed to retail customers is overdue.”
Back in January, I told you that two geothermal startups raised a combined $212 million: Zanskar, which uses artificial intelligence to hunt down previously undetected conventional geothermal resources underground; and Sage Geosystems, a next-generation startup using fracking technology to drill for geothermal heat in places that conventional resources can’t tap. This week we saw two geothermal companies once again net a nine-digit number. Once again, Zanskar — considered by experts Heatmap surveyed to be one of the most promising climate-tech companies in the game right now for a reason, after all — announced the closing of another $40 million fundraise. Just Capital and Spring Lane Capital led the round, with an additional investment from Tierra Adentro Growth Capital. Zanskar said the round was a development capital facility, a type of deal that usually involves equity or debt to fund a company’s growth. It is “among the first ever structured for early-stage geothermal development, drawing on the best practices from the renewables and natural resource sectors,” the company said Thursday in a press release. The financing will help establish a revolving line of credit “designed to accelerate project development.”
On Wednesday, another competitor in the next-generation geothermal space, Mazama Energy, pulled in a fresh round of capital. The Frisco, Texas-based company, which last year boasted a system that reached hotter temperatures than any other geothermal company, just raised $100 million, according to Axios.

San Diego, once the poster child for a drought-parched Southern Californian city, is now looking to become a water exporter, The Wall Street Journal reported. North America’s largest desalination plant is producing so much freshwater for the San Diego County Water Authority that the city is working on a deal to sell millions of gallons to Arizona and Nevada. The Claude “Bud” Lewis Carlsbad Desalination Plant, which opened in 2015 and is owned by an infrastructure investment firm, may produce more expensive than average water, but “it is important to note that it is more reliable than other sources,” Keith R. Solar, a water attorney from the seaside neighborhood of Point Loma, wrote in the Voice of San Diego last year. “Its value as insurance against disruption of supplies from other sources makes it a critical part of our future.”