Chevron CEO Sounds Dire Fuel Price Warning

According to Mike Wirth, CEO of Chevron, Americans need to pay close attention to more than simply the price of gas right now. In fact, as we approach the winter, the price of another, nearly equally significant sort of gas may soar.

Which gas is that? Gas, natural. The typically clean-burning fossil fuel that has replaced coal as the main fuel for electricity generation, but from which Europe has been shut off as a result of its trade war with Russia and punitive sanctions.

There is undoubtedly a chance that [natural gas] prices may increase, according to Wirth, who discussed the subject on CNN on September 13th. Talking about something and making a comment on the current pricing range.

Over 15% has been added to oil prices so far this year. That has increased the sales, profits, and stock values of businesses like Chevron (CVX). The best performer on the Dow is Chevron (CVX), whose shares have increased in value by almost 40% in 2022. Exxon Mobil (XOM), a rival, has increased by over 60%.

Though he foresaw price increases, Wirth nevertheless opposed the idea of a ban on exports, saying: “A ban on exports runs the risk of taking supplies that are needed in other parts of the world and reducing those, which can drive world prices up, which then can affect the price of imports into this country.”

In the meantime, as prices appear set to rise, Biden’s energy secretary urged fuel producers to concentrate on domestic production rather than exports, saying “Given the historic level of U.S. refined product exports, I again urge you to focus in the near term on building inventories in the United States, rather than selling down current stocks and further increasing exports.”

RELATED ARTICLES

Biden Sides With Republicans – Blocks DC’s New Crime Law

To prevent a laxened criminal legislation in Washington, DC, President Joe Biden approved a Republican-led bill on Monday. The...

White House Report Claims More Immigrants Would Help Economic Growth

As family sizes shrink and many parents choose to have one spouse stay at home with small children rather than pay for...

Gwyneth Paltrow Accused of “Hit and Run” Accident

Gwyneth Paltrow, an Emmy Award-winning actress, is most recognized for her extensive filmography, which spans from the early 1990s to the present....

AOC Has Another MELT DOWN On House Floor Over “Parents Bill Of Rights”

On Thursday, Alexandria Ocasio-Cortez experienced another another breakdown. The recently introduced Parents Bill of Rights was attacked by her. In order to...

Biden Snaps Photo With Suspected Chinese Intel Group

The recent demonstration held by President Joe Biden in Monterey Park, California, to support his executive order on gun control was tainted...

Bipartisan Push Clears Senate Hurdle

When the Constitution was written by the Founding Fathers, unknowingly, they have given Congress the authority to proclaim war.  Yet, in recent...

YOU MAY ALSO LIKE…

LATEST POSTS ON UNCAGED BRIEF

Most Recent

Gwyneth Paltrow Accused of “Hit and Run” Accident

Gwyneth Paltrow, an Emmy Award-winning actress, is most recognized for her extensive filmography, which spans from the early 1990s to the present....

White House Report Claims More Immigrants Would Help Economic Growth

As family sizes shrink and many parents choose to have one spouse stay at home with small children rather than pay for...

MASSIVE Explosion at Pennsylvania Chocolate Factory – Multiple People Reportedly Missing

A tragic incident occurred on Friday, March 10th, at the RM Palmer Company in West Reading, Pennsylvania. A massive explosion occurred in...

AOC Has Another MELT DOWN On House Floor Over “Parents Bill Of Rights”

On Thursday, Alexandria Ocasio-Cortez experienced another another breakdown. The recently introduced Parents Bill of Rights was attacked by her. In order to...

Biden Snaps Photo With Suspected Chinese Intel Group

The recent demonstration held by President Joe Biden in Monterey Park, California, to support his executive order on gun control was tainted...

Bipartisan Push Clears Senate Hurdle

When the Constitution was written by the Founding Fathers, unknowingly, they have given Congress the authority to proclaim war.  Yet, in recent...