Trump appoints Chris Wright, CEO of Liberty Energy and Oklo board member, as Energy secretary.

• Chris Wright, CEO of Liberty Energy, was chosen by President-elect Donald Trump to head the Department of Energy.
• Oklo is a nuclear power startup where Wright serves on the board, and Liberty Energy is an oilfield services company based in Denver, Colorado.
• Wright has denied that climate change represents a global crisis.

On Saturday, Donald Trump, the president-elect, appointed Chris Wright as the next energy secretary of the United States.

Liberty Energy, an oilfield services company based in Denver with a $2.7 billion market capitalization, experienced a nearly 9% increase in stock value on Nov. 6 following Trump's victory in the U.S. presidential election. However, its shares have since decreased.

Sam Altman, CEO of OpenAI, is a backer of a nuclear power startup called , which has Wright on its board and is developing micro reactors.

Trump's Council of National Energy will be led by North Dakota Gov. Doug Burgum, and Wright will also serve on the council, the president-elect announced on Saturday.

Fossil fuels transition is not the solution to climate change, according to Wright.

"According to Wright, there is no climate crisis and we are not undergoing an energy transition. In a video posted on LinkedIn, he stated that carbon dioxide is essential for the survival of humans and all complex life on earth. Therefore, the term "carbon pollution" is unjustified."

""All energy sources have both positive and negative impacts on the world," Wright stated."

Wright was characterized by Trump as a prominent innovator and businessman in the field of energy technology.

The president-elect stated on Saturday that he has experience in Nuclear, Solar, Geothermal, and Oil and Gas industries.

Trump stated that Chris was among the pioneers who played a crucial role in launching the American Shale Revolution, which contributed to American Energy Independence and transformed the global energy markets and geopolitics.

Despite analysts and some oil executives stating that the president has minimal impact on oil and natural gas production in the U.S., Trump has pledged to boost fossil fuel production in an effort to lower energy costs.

Since 2018, the U.S. has been the top producer of crude oil globally, surpassing both Russia and Saudi Arabia, as per the Energy Information Administration.