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Markwayne Mullin: “We can bring down that cost from, like I said, from the low…”

Featuring: Markwayne Mullin, Republican | U.S. Senate, Oklahoma

SEN MULLIN: 'This is what we're doing to make Venezuela investable.' | Squawk Box

Published January 13, 2026 | Video Starts at 05:40

You can't build a product, you can't deliver a product without factoring the cost of energy into it. So if we can get permit reform, which the president has made it a staple, We can bring down that cost from, like I said, from the low end, about $45 a barrel. And the oil companies can still be profitable and the shareholders can still be happy with it. Let me ask you a different question. (05:40–05:46)

CLAIM

Asserts that permit reform can reduce oil production costs to $45 per barrel.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Markwayne Mullin

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