Doug Burgum

And of course, here we are in Japan who's been buying LNG from Alaska for more than 50 years without a single interruption because there are no choke points when you're buying energy from the United States.

And that's very different than when you're buying from providers where you've got a terrorist regime

And whether it's directly the Iranians or their proxy, the Houthis, that can cut off flows of commerce to the world, energy security matters to these buyers.

And that's why we're seeing these senior leaders and some of the largest LNG companies in the world all here.

There's going to be a lot of deals announced in the next couple days at this event, meaning in the tens of billions of dollars, because there's that kind of understanding of the importance of energy security.

Well, I think that one of the things that we're seeing is that, you know, China having really benefited with the failed sanctions under the Biden administration when we had failed sanctions on Venezuela, Iran and Russia, the three places where we've had conflicts in the world.

You know, they've been buying for the last three or four years.

They've been buying discounted refined product and discounted oil.

I mean, I basically say the failed sanctions, the Biden administration just turned Russia, Iran and Venezuela into China's discount gas station.

They took full advantage of that, building up the largest.

We've lifted sanctions on Russia, right?

Well, it's going to make it more expensive because that's going to increase the price of that floating oil that's out there right now.

But this temporary waiver on the Russian floating oil, most of that oil had already left Russia.

So Russia's not benefiting from that.

If there's any price arbitrage, it was whoever owned the cargo after it left Russia.

But that's going to help make sure that we can keep prices down for our allies like India and others.

And so, again, that was a smart move that the administration undertook previously.

on that temporary waiver, on all that floating, you know, the dark fleet oil that was out there, again, to help relieve some of the short-term pressure.

But meanwhile, you know, our military making incredible progress on, you know, securing the objectives of this conflict.

Well, I think all of these ideas are under consideration.