image credit: Unsplash

Chevron CEO Warns of High Energy Prices, Supply Crunches

September 16, 2021

The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive.

“There are things that are interfering with market signals right now that we haven’t seen before. Eventually things work out, but eventually can be a long time,” CEO Mike Wirth said Sept. 15 in an interview with Bloomberg News. He expects strong prices for gas, liquefied natural gas and oil, at least “for a while,” without specifying a time frame.

Read More on Transport Topics