Energy Secretary Chris Wright said Trump was “well aware of the risks to energy flows” before launching war against Iran.

Washington- Energy Secretary Chris Wright said Sunday that President Trump was “well aware of the risks to energy flows” before launching war in Iran earlier this year, but asserted that “the world cannot support a nuclear-armed Iran.”

“He knew it was going to drive up energy prices in the short term, so he said, ‘I’m going to take a hit, but I have to do the right thing.'” Wright said on “Face the Nation with Margaret Brennan“.

Americans have felt the financial strain of soaring gasoline and diesel prices in recent months. But the Trump administration has highlighted the potential threat that a nuclear-armed Iran could pose and how that could pose a long-term threat to energy prices. Wright defended the president on Sunday, arguing that Mr. Trump had taken “a strong position that Iran, the world’s largest terrorist regime, cannot and will not have nuclear weapons.”

Wright expressed confidence in falling prices, pointing to, among other factors, increased supplies from the Strait of Hormuz, U.S. gasoline production and a slowing summer season. Asked if he expected prices to drop over the next four weeks — as Republicans face a tough environment heading into the midterm elections — Wright said “absolutely.”

“Diesel and gasoline prices have gone down,” Wright said. “I expect this to continue.”

Diesel prices have soared from above $6.50 per gallon in recent weeks, putting pressure on farmers, who rely on diesel to power their agricultural machinery, as well as industries ranging from construction companies to food banks, who rely on diesel to power their vehicles and delivery trucks. Wright noted that diesel prices have fallen just over 20 cents so far in recent days, adding that he expects prices to continue to fall.

“You should see it below $6 shortly,” he said. “But when exactly, I certainly don’t know.”

Wright said that “all we’re doing is increasing the supply of diesel, increasing the supply of gasoline and, frankly, again, reversing years of policies that have been directed in exactly the opposite direction: reducing our capacity to produce, refine and deliver hydrocarbons.”

Wright did not want to weigh in on the president’s plans or the possibility of military escalation after the midterm elections. But he added that Mr. Trump “always planned for the unexpected and always negotiated,” and that diplomatic and military channels remained open.

The Energy Secretary said obtain agreement from the Group of Seven countries last week, releasing 100 million barrels of fuel over four months is a “big deal.” He called it “common sense” and said it would lower diesel prices in the United States and around the world during the winter.

“Europe has very large diesel stores. They don’t refine enough diesel to supply their own economies, so naturally they store a lot of diesel. They are very keen to see American diesel continue to flow to Europe. They have a lot of diesel in stores. Why not release some of that?” » said Wright. “That’s why you’re stockpiling diesel when all Russian diesel exports are stopped, when the Chinese have said we’re not going to deliver any more diesel, and you still have a reduction in diesel flows coming out of the Gulf. But we’re restoring them, but it takes time.”

Asked whether the president had ruled out a diesel export ban, which Wright opposed, Wright said that “every day” Mr. Trump was “throwing out ideas” and that the president remained engaged in discussions.

“There are different ways of looking at it. He’s always asking, ‘How can I reduce energy prices?’ How can I reduce the prices of heating, electricity, gasoline, diesel?” In fact, I would say that his constant communication on this subject may have been very helpful in reaching the agreement that we have just reached,” he said.

Wright added: “It’s just a constant dialogue about the many levers we have, how can we bring down diesel prices and bring down gasoline prices and others at the same time?”