The stock price of Liberty Energy surges following the appointment of Chris Wright as the new energy secretary under President Trump.

• The stock prices of Liberty Energy and Oklo are increasing following the appointment of Chris Wright as head of the Energy Department by Trump.
• As a board member at Oklo, Liberty's CEO, Wright, also serves in that capacity.
• The president-elect has appointed Wright to his Council on National Energy as a board member.
• The CEO has rejected the notion that climate change is a worldwide emergency necessitating a shift from fossil fuels.

On Monday, the price of shares increased following the selection of CEO Chris Wright as energy secretary by President-elect Donald Trump.

An oilfield services company based in Denver, Colorado with a market capitalization of $2.7 billion is Liberty Energy.

The shares were up 5% in premarket trading Monday.

Oklo's stock surged nearly 10% in premarket trading, and Wright is also a board member at Oklo, a nuclear startup backed by OpenAI CEO Sam Altman that is developing micro reactors.

The president-elect's Council on National Energy will have Wright as a board member, while the CEO has stated that climate change is not a global crisis that necessitates a shift from fossil fuels.

Despite the election, analysts and industry leaders, including Exxon CEO Darren Woods, predict that oil and natural gas production in the U.S. will remain unchanged.

Since 2018, the U.S. has been the world's largest crude oil producer, surpassing Russia and Saudi Arabia.