The CEO of Chevron just said it out loud.
"We're starting to see risks of supply outages in some of these economies."
Europe is already there.
Flights canceled. Schedules gutted. Jet fuel "very, very tight" in his words.
Now Chevron's CEO is telling Americans directly: the US is next.
"It's a global market."
Energy independence doesn't mean price independence and it doesn't mean shortage independence either.
When US exports hit records to fill gaps abroad, when the same barrels are being bid on by Europe, Asia, and American refiners simultaneously the market clears at one price.
That price is going higher📈
The CEO of the company that literally operates in Venezuela, the Gulf of Mexico, and Kazakhstan is telling you the system is starting to crack.
The physical shortage everyone modeled as a tail risk is becoming the base case.
link for the full article in replies 👇