U.S. President-elect Donald Trump on Saturday announced the nomination of hydraulic fracturing magnate Chris Wright, CEO of Liberty Energy, as Secretary of Energy, who will have to “cut red tape”to stimulate investment in fossil fuels.

“As Energy Secretary, Chris will be a key leader, spurring innovation, cutting red tape and ushering in a new +golden age of American prosperity and global peace+”Donald Trump said in a statement. His candidacy was supported by oil companies, according to the Financial Times.

Chris Wright will also be a member of the newly created National Energy Council (NEC), announced Friday by the president-elect, whose mission will be to “oversee the path to U.S. energy dominance.”. Liberty Energy’s boss is “a leading energy entrepreneur. He has worked in nuclear, solar, geothermal, and oil and gas.”Donald Trump commented in the release.

“Most importantly, Chris was one of the pioneers who helped launch the American shale revolution that fueled American energy independence and transformed global energy markets and geopolitics.”said the president-elect. A graduate of the prestigious MIT and UC Berkeley, Chris Wright founded Pinnacle Technologies in 1992, “whose innovations helped launch commercial shale gas production and create a hydraulic fracture mapping industry.”states the Liberty Energy website.

He was then President of Stroud Energy, “one of the first shale gas producers, before selling it to shale pioneer Range Resources in 2006.”. Chris Wright lives in Colorado with his wife.