NEWS: Iran won't 'have the ability to close the Strait of Hormuz,' according to Energy Sec. Chris Wright.

👋 Carrie here. Yesterday, I headed to Reuters’s Global Energy Forum to hear Wright speak. Unsurprisingly, he spent a good chunk of that time reflecting on the Iran conflict.

Where things stand: It’s been just over a week since the US and Iran signed a deal—and oil is moving. As of yesterday, roughly 20M barrels of oil had moved through the Strait in just 24 hours, Wright told the crowded room. But a major hurdle remains: Mines still line the Strait (hence why ships are taking alternative routes via US military escort).

And if the deal collapses? In that scenario, Wright said the US will ensure the Strait doesn’t close again. How? 1) Iran’s military industrial complex has been “massively degraded” from US strikes and 2) the US Navy has shown “that we can shut their flow of oil down to zero” over 60 days.

The bottom line: "The world runs on oil, gas, and coal…it did when I was born. It will when I die,” Wright said. “And I'm an alternative energy guy, but that's just the facts."

Also on Wright's mind: Permitting reform—he hopes to "get something done" this summer. Plus, he sees data centers as "the biggest tool we have to stop the rise in electricity prices.” He put it like this: "Demand growth is your friend."