OKLAHOMA CITY – The CEO of an Oklahoma oil company may be in the running to become the head of the Department of Energy under Donald Trump.
For months, Continental Resources CEO Harold Hamm has been working with Trump to create his energy policy, including a plan to roll back regulations and increase drilling on federal lands.
In 2015, U.S. wells were producing about 9.4 million barrels of crude oil a day.
However, that jump in production “contributed to a global glut of crude that tanked oil prices two years ago,” CNBC reports.
Despite a drastic drop in oil prices, Hamm says current regulations that protect federal land are holding back the oil and gas industry.
Now, many analysts suspect that Hamm will be chosen as the secretary of energy.
However, officials at Continental Resources tell NewsChannel 4 that Hamm has told the company that he is committed to Oklahoma City and has not been asked by Donald Trump to be a cabinet member. He says he would continue to advise on energy policies.