The next is the transcript of the interview with Secretary of Vitality Chris Wright that aired on “Face the Nation with Margaret Brennan” on Jan. 11, 2026.
MARGARET BRENNAN: This morning, President Trump vowed that Venezuela now has the army safety of the US. This comes only one week after he mentioned the US would run that nation. In the meantime, Venezuelan opposition chief Maria Corina Machado is anticipated to journey to Washington to satisfy with President Trump this week. For his half, Mr. Trump and his group met with dozens of US oil executives late final week, urging them to commit $100 billion to spice up oil manufacturing there. Becoming a member of us now to debate all of it is america Secretary of Vitality, Chris Wright, good to have you ever right here in individual.
SECRETARY CHRIS WRIGHT: Thanks for having me, Margaret.
MARGARET BRENNAN: Earlier than I ask you about Venezuela, in a short time, these protests in Iran, not this nation reliant on oil to maintain its authorities managed financial system afloat. The President has been briefed on army choices. What’s the US prepared to do to assist?
SEC. CHRIS WRIGHT: Actually the President has been very outspoken about desirous to have freedom and rule of legislation and capitalism and nice relations with america return. So we’ll see. I believe his ethical help has been sturdy. Actually, he is taken a powerful stance towards the mullahs in Iran in disabling their nuclear program. I believe the individuals in Iran are rising up as a result of they really feel there is a sturdy America that has their again. I will not go into the specifics there, however we want them nicely, and we would like to see a free and democratic Iran once more.
MARGARET BRENNAN: Will there be extra interdictions of vessels carrying Iranian oil? Any extra exercise on that entrance?
SEC. CHRIS WRIGHT: I will not reveal any change in place there.
MARGARET BRENNAN: Okay, let me ask you about Venezuela,
SEC. CHRIS WRIGHT: Sure.
MARGARET BRENNAN: the place you will have been very targeted and really central to the President’s coverage. The President mentioned that Venezuela now has america, essentially the most highly effective army on the earth, to guard them. To guard them, we’ll. Is america army offering safety ensures for American firms?
SEC. CHRIS WRIGHT: We’re not doing that proper now, however what we, what he means, is we’re altering the sport for what’s taking place within the floor in Venezuela. Venezuela has bought $20 billion of Russian weapons. They bought Cuban mercenaries there. They provide oil to Cuba. They, they harbor the Hezbollah’s headquarters for the Western Hemisphere. Venezuela has been a really harmful, very destabilized place happening the tubes. And with america affect now by controlling the sale of their oil and due to this fact the stream of funds into the nation, we predict we will, we’ll see comparatively speedy change, enchancment on the bottom in Venezuela. This can be a course of. We’re solely eight days into the method, nevertheless it’s off to a powerful begin.
MARGARET BRENNAN: Properly, it is off to a fast begin. You had the oil executives on the White Home simply Friday. That the President, excuse me, the State Division yesterday had a safety alert I need to ask you about as a result of it particularly cited the danger to People in Venezuela, and it mentioned armed militias are establishing roadblocks, looking out automobiles for proof of US citizenship or help for the US. The person who runs these militias is Diosdado Cabello, who’s the Minister of the Inside. Is he ordering the looking of People?
SEC. CHRIS WRIGHT: Not that we’re conscious of, however we ought to be cautious. Look, that is, as they are saying, eight days right into a change right into a change of management there. The interim authorities try to determine energy. Collectivos have been operating wild over, over Venezuela for, for over a decade. So, yeah, you are not going to–
MARGARET BRENNAN: Proper. Properly he controls them.
SEC. CHRIS WRIGHT: He does.
MARGARET BRENNAN: So is he protected in his place? As a result of proper now the administration appears to be working with him.
SEC. CHRIS WRIGHT: We have to work with the people who have the weapons right now to finally transfer the nation to a consultant authorities and a greater station. However what you have to stop within the imply time period is a collapse of the nation. And I believe the sturdy strikes we’re making proper now’s to affect the individuals with the weapons right now, which is a part of a course of.
MARGARET BRENNAN: And you are not involved he will undermine the extra enterprise minded President Delcy Rodriguez?
SEC. CHRIS WRIGHT: Oh, in fact we’re frightened about issues like that. We have to get stability among the many management in Venezuela. So sure, in fact we’re involved about these issues.
MARGARET BRENNAN: So inform me broadly, is the Trump administration’s aim right here to amass the state oil firm, PDVSA, and to run it. Are you going to place People on the board? How is that this going to work?
SEC. CHRIS WRIGHT: Properly, once more, it is a course of. The very first thing to do is to scale back the harm to america, the influx of weapons and criminals and immigrants and medicines into america, the destabilizing of a key a part of the Western Hemisphere. We have to cease that. That is why we have entered into Venezuela. Actually, a part of the way in which to enhance Venezuela and to enhance the Western Hemisphere and enhance the lives of People is to get their very corrupt 25 years in decline, oil trade again going once more.
MARGARET BRENNAN: Does that imply america authorities goes to run it? The president says we will run the nation. Are we operating this as like as an American state owned oil firm primarily?
SEC. CHRIS WRIGHT: No. In the present day we’re operating the sale of their crudes. You understand, we’ve got a quarantine round their potential to ship oil outdoors of Venezuela. All of that goes by American crude entrepreneurs, after which that crude goes out into the market. We gather these funds and convey them again to Venezuela to higher the lives of People and Venezuelans. However in the long term, what is going to occur with Venezuelan oil sources? Yeah, in fact, fairly seemingly you will see American firms’ expanded presence there. You will see rising manufacturing. In fact, you are going to see extra American involvement in there. However precisely how that is going to work, that is going to unfold over time.
MARGARET BRENNAN: So again in November, us, Choose backed a bid by an American hedge fund to buy Citgo Petroleum. The Treasury nonetheless has to approve that deal. The hedge fund is definitely run by a giant Trump donor, Paul Singer. Do you need to protect Venezuelan possession of Citgo? Do you need to have America have a monetary stake in it, like Trump purchased a giant portion of an intel firm, do you need to personal parts of oil firms?
SEC. CHRIS WRIGHT: Once more, that is going to be as much as American companies. That is definitely a really actual chance. The Citgo sale is a part of, is a part of bringing redress to collectors of america for the Venezuelan Authorities. And naturally, one, one of many capital suppliers in that transaction is a hedge fund supplier you simply talked about. There’s a lot of American traders and American refining entrepreneurs which can be concerned in that so to take Venezuelan owned refineries which can be in america and legally by an public sale course of, switch them to American homeowners and American entrepreneurs within the refining enterprise. I believe that is implausible.
MARGARET BRENNAN: There’s concern about corruption right here, although. Will there be People put in on these boards? And the way do you reply to those allegations that some Trump donors are going to get preferential therapy?
SEC. CHRIS WRIGHT: I can guarantee you that’s completely not the case. Completely not the case. Consider what President Trump has carried out for the American oil and gasoline trade. He is pushed down the worth of oil. He is dramatically diminished–
MARGARET BRENNAN: There’s an over provide of oil. And now you are going to put extra available on the market.
SEC. CHRIS WRIGHT: Precisely. That is not- That is not good for American oil and gasoline firms.
MARGARET BRENNAN: As a result of it makes it much less worthwhile for them to really go and spend money on drill, child, drill.
SEC. CHRIS WRIGHT: Precisely. Democrats and President Biden are implausible for American oil and gasoline firms as a result of they attempt to prohibit the provision to one thing that is important to life, which solely has one potential affect, which is to drive up costs and develop profitability. So President Trump is not any, is not any helper to the oil and gasoline trade. And definitely there is no corruption, preferential placement of individuals. There’s none of that. I can guarantee you of that. I am within the heart of this.
MARGARET BRENNAN: How are you going to resolve the contracts? Is the Treasury going to approve the Citgo dominance there in that–
SEC. CHRIS WRIGHT: That went by a big public sale to purchase it.
MARGARET BRENNAN
Are you going to transient to Congress the selections you are making about which companies get entry?
SEC. CHRIS WRIGHT: Completely. All that was an public sale open to all American companies. There have been many bidders, together with the coalition of bidders you talked about. We wish these belongings to get as a lot cash as potential, to return to the collectors of the Venezuelan Authorities. And we wish American refinery belongings owned by People which can be going to extend the throughput, drive down the worth of gasoline in America.
MARGARET BRENNAN: Okay. So Secretary Rubio mentioned there is a three level plan, stabilize, rehabilitate, transition. This sounds indefinite, even whenever you heard a few of these oil executives, Chevron’s management, they’re already in Venezuela, we must always say, mentioned it is going to take 18 to 24 months to even enhance oil manufacturing by 50%. So how lengthy is that this American involvement? As a result of he is saying there, it is not less than a 12 months and a half, two years.
SEC. CHRIS WRIGHT: They have been there for 100 years, and sure, Chevron’s going to be there 50 years from now.
MARGARET BRENNAN: However america authorities, how lengthy does that function proceed?
SEC. CHRIS WRIGHT: You heard the third a part of Rubio’s query, which is transition. We need to carry a consultant authorities to the individuals of Venezuela. I believe then you definately’ll see the complete sovereignty again to the federal government of Venezuela. We do not have a reputable authorities of Venezuela right now. We might like to maneuver and get there, however America–
MARGARET BRENNAN: Is there a timeline?
SEC. CHRIS WRIGHT: 25 years, this nation has gone in decline. President Trump out of the field, inventive intervention has allowed us to alter the sport. However, yeah, I do not know the timeline of that. It is not weeks, it is extra months. May very well be a 12 months or two could possibly be extra.
MARGARET BRENNAN: Okay. Secretary Wright, thanks in your time right now.
