Americans have spent an extra $24 billion on gas in just two months thanks to rising prices from Trump's Iran war

[TBF]

12. Chevron's CEO is warning about oil shortages --

I don't doubt that the industry has profited and received tax cuts. Still, one of them is sounding the warning bells. Not that Trump will listen - he doesn't listen to anyone because he is insane and/or suffering from dementia.


Chevron CEO warns of oil shortages from Strait of Hormuz closure

Cris Tolomia
Tue, May 5, 2026 at 7:34 AM CDT 2 min read

Trading disclosure
Physical oil shortages are on the way, Chevron CEO Mike Wirth warned Monday — a consequence, he said, of the closure of the Strait of Hormuz, a chokepoint through which roughly a fifth of the world's crude oil usually moves.

During remarks at a Milken Institute event reported by Reuters, Wirth said the tightening of supply would force demand lower, with Asian economies among the first to feel the contraction. Wirth invoked the twin energy crises of the 1970s — episodes that brought rationing and pump-line gridlock to economies worldwide — as a historical parallel, calling the closure's potential impact "potentially as big as in the 1970s."

https://finance.yahoo.com/sectors/energy/articles/chevron-ceo-warns-oil-shortages-123446204.html