Chevron CEO Mike Wirth detailed the company’s strategy to take advantage US Natural Resources to meet the growing demand for artificial intelligence energy, without passing the cost on to consumers.

“As data centers need more and more electricity, and as we’re seeing pressure on the grid and electricity prices, we’re working to build an energy park that’s not connected to the grid, so the costs don’t go to all consumers,” Wirth said. “Mornings with Mary”, describing the approach as an advantage that allows the company to “turn energy into intelligence.”

Wirth joined FOX Business on Monday to discuss Chevron’s record performance and long-term growth strategy as artificial intelligence drives unprecedented demand for reliable electricity.

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Chevron CEO Mike Wirth delivers the keynote address as top energy executives and ministers gather in Houston for the annual Gastech conference in Houston, Texas on September 17, 2024. (Reuters/Callaghan O’Hare/Reuters)

He said the company is tapping the “tremendous resource” of US natural gas to generate power directly for hyperscale data centers, bypassing the traditional power grid and insulating the public from higher electricity costs.

“This is another advantage where you can turn energy into intelligence, and the abundance of energy that this country has can translate into not just energy dominance, but AI dominance,” Wirth told Maria Bartiromo.

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Flared natural gas is flared at Apache Corporation’s operations at the Deadwood natural gas plant in the Permian Basin on February 5, 2015 in Garden City, Texas. (Spencer Platt/Getty Images/Getty Images)

Chevron in 2025 revealed plans to develop an off-grid natural gas facility in West Texas designed to generate electricity for large-scale data centers without relying on the traditional power grid.

The company previously announced a partnership with activist investment firm Engine No. 1 and GE Vernova to explore natural gas-powered solutions aimed at supporting the rapid expansion of AI and data center infrastructure in the United States.

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The discussion comes as Chevron released a record year of oil production which helped offset the pinch from the drop in oil prices.

Wirth said the company’s free cash flow rose 35 percent, along with a number of other financial gains, even as oil prices fell 15 percent.