G20 Meetings Focus on Energy and Oil Prices

So today the United States is hosting the G20 meetings in Houston

as our country's conflict with Iran continues to cause increased gas and

oil prices. Fox Business correspondent, Lauren Simonetti, is

live in Houston with the latest. Hey, Lauren.

Hey, I think you might wanna be here. Texas.

I know.

How's it going, Lawrence? Good morning, everybody.

I know, and it's all about energy dominance.

It's about building reliable and affordable supply chains,

um, for critical minerals, but also, and more importantly right now, for power

generation. Look, the war in Iran is causing high prices

for many consumers, but also high investment coming into

the United States and into the Western hemisphere.

I did ask Interior Secretary Doug Burgum, who is also chair of the

National Energy Dominance Council, about that power shift.

Listen here.

This is about the geopolitical center of oil moving out of the Middle East, when

we have all these questions about Middle East disruptions, moving that to the

Western hemisphere because between what President Trump has done on, on energy

abundance, energy dominance here in the US,

the US now the record, uh,

oil producer, record, record production from the US,

number one in the world,

uh, larger than number two and three combined.

And Venezuela is also here, along with every member from the Group

of 20. Venezuela executives will be discussing

how to

increase oil production. The secretary told me, and I quote,

"Rig activity is coming in fast," and they hope to get that

1.2, 1.3 million barrels a day up as

fast as they can. Look, prices are high for Americans.

You got oil at $102 a barrel, gas at 4.31, and diesel,

Lawrence, that, that is the workhorse fuel of the economy,

at an all-time high,

6.23 today. They're not glossing over that,

but they are responding to it in ways to make it better. Lawrence, back to you.