Chevron CEO Warns of Worsening Oil Crisis; Majority Blame Trump for High Gas Prices
Chevron’s CEO expressed uncertainty regarding the peak of gas prices, highlighting ongoing upward pressures due to supply constraints exacerbated by the Iran war and difficulties in securing resupply. He cautioned that these factors are draining the system’s shock absorbers, increasing volatility and potentially leading to a severe drop in fuel demand. Furthermore, the CEO predicted continued price hikes for jet fuel, which could impact summer travel plans and contribute to airline operational adjustments. Despite these concerns, White House officials remain optimistic about reducing energy prices before the end of the current term.
John Q. Hosedrinker