(Oil Price)– Low oil prices may be squeezing U.S. shale producers, but Interior Secretary Doug Burgum isn’t worried. In a new interview with The National’s Hadley Gamble, Burgum predicted that skyrocketing demand from the tech sector—particularly AI data centers—will be the next great engine of growth for the American energy industry.
“The tech guys are becoming the biggest customers in the world for energy,” Burgum told Gamble during On the Record. “And it will only get bigger.”
As chairman of President Trump’s National Energy Dominance Council, Burgum is positioning the administration’s energy strategy around what he calls an “AI electricity surge.” He argues that hyperscalers are already outbidding traditional buyers and creating a structural boost in long-term demand. That, he says, will help offset the current oil market glut and pricing pressure.
“We’re helping [shale producers] two ways,” Burgum said. “We’re driving up demand with AI and driving down break-evens by cutting red tape.”
Burgum’s bullishness comes in the same week the Trump administration signed a $750 billion energy trade pact with the EU. While execution details remain vague, Burgum sees it as a signal to investors. “When you see this kind of demand coming from a trade deal, it’s very encouraging,” he said.
He also touted new Gulf of Mexico resource estimates, claiming updated maps show as much as $28 trillion in recoverable oil and gas in that region alone. “It’s not just ‘drill, baby, drill’—it’s ‘map, baby, map,’” Burgum quipped.
And for those worried about competition, Burgum insists there’s room for everyone. “OPEC, the U.S.—we’re all going to win,” he said. “Two billion people still need energy. This is going to be a good business to be in for decades.”
By Julianne Geiger for Oilprice.com
