Doug Burgum

Our balance sheet isn't just the financial assets. It includes the fact that just within Interior alone, there's 500 million acres of surface land. Throw in U.S. Forest Service, add another 200 million acres.

Yes. And then we have 700 million acres of subsurface, sometimes continuous and some discontinuous. But we own all these minerals that are underground. Then there's about between two and a half and three billion acres of offshore land. that contain critical minerals and oil and gas minerals. All of that is under the federal purview.

Yes. And then we have 700 million acres of subsurface, sometimes continuous and some discontinuous. But we own all these minerals that are underground. Then there's about between two and a half and three billion acres of offshore land. that contain critical minerals and oil and gas minerals. All of that is under the federal purview.

If Interior was a standalone company, it would have the largest balance sheet in the world by so far. I mean, you know, Saudi Aramco wouldn't even come close. And then you'd say, okay, well, if you have this, we all know about the $38 trillion in debt. It gets, you know, hammered all the time. It's used in campaign things.

If Interior was a standalone company, it would have the largest balance sheet in the world by so far. I mean, you know, Saudi Aramco wouldn't even come close. And then you'd say, okay, well, if you have this, we all know about the $38 trillion in debt. It gets, you know, hammered all the time. It's used in campaign things.

But I was, you know, even at the Hill and Valley conference this week, I, without doubt,

But I was, you know, even at the Hill and Valley conference this week, I, without doubt,

asking the audience okay how many you know how many know the 38 trillion everybody's how many of you know what our balance sheet on the asset side is well nobody knows because none of the senators know because we haven't calculated but we're working in the trump administration to try to come up with that number and in in one estimate this week is we think just on a

asking the audience okay how many you know how many know the 38 trillion everybody's how many of you know what our balance sheet on the asset side is well nobody knows because none of the senators know because we haven't calculated but we're working in the trump administration to try to come up with that number and in in one estimate this week is we think just on a

Just on public land alone, there may be $8 trillion of coal resources. And I know coal is sometimes, you know. It's a dirty word. It is. But, you know, we need to also remember that if we're going to have steel in this country, and we all agree we need to have a steel industry. We need to have for defense. We need to have it for advanced manufacturing.

Just on public land alone, there may be $8 trillion of coal resources. And I know coal is sometimes, you know. It's a dirty word. It is. But, you know, we need to also remember that if we're going to have steel in this country, and we all agree we need to have a steel industry. We need to have for defense. We need to have it for advanced manufacturing.

We also need to have a shipping industry that comes back to our country. You need steel for that. Well, guess what you'd make steel out of? Well, part of it, you need coke, and coke comes from a certain kind of metallurgical coal. So if we kill the coal industry, you can't have a steel industry unless we're going to have somebody ship metallurgical coal to us.

We also need to have a shipping industry that comes back to our country. You need steel for that. Well, guess what you'd make steel out of? Well, part of it, you need coke, and coke comes from a certain kind of metallurgical coal. So if we kill the coal industry, you can't have a steel industry unless we're going to have somebody ship metallurgical coal to us.

In the coal resources around our country, the coal is also filled up. with the critical and rare earth minerals that we need to go in this battle with China, particularly now with China just in weeks ago, putting on export controls on a number of minerals that we need for doing things like batteries that we need for electric motors, for whether it's cars or home drills or rockets, missiles.

In the coal resources around our country, the coal is also filled up. with the critical and rare earth minerals that we need to go in this battle with China, particularly now with China just in weeks ago, putting on export controls on a number of minerals that we need for doing things like batteries that we need for electric motors, for whether it's cars or home drills or rockets, missiles.

I mean, the magnets that are at risk now because we became so dependent on China. So when you take a look at the the this balance sheet, you know, we need it for defense. We need it for national security. But Theodore Roosevelt, who was instrumental in putting away these hundreds of millions of acres in the original intention that said this was there for the benefit and use of the American people.

I mean, the magnets that are at risk now because we became so dependent on China. So when you take a look at the the this balance sheet, you know, we need it for defense. We need it for national security. But Theodore Roosevelt, who was instrumental in putting away these hundreds of millions of acres in the original intention that said this was there for the benefit and use of the American people.

And he also said very explicitly that that conservation.

And he also said very explicitly that that conservation.

meant meant you know in sustainable use not just preservation because we saw what happened you know following the uh the the extremism that that landed around the spotted owl which is oh we've got to stop not just the harvesting of certain old growth timbers or it killed the timber industry in america and when we killed it back in the 1990s then And it's never come back.