Chevron’s CEO has warned that he isn’t sure how high gas prices could get as Donald Trump continues to try to bring an end to the two-month-long Iran war. Mike Wirth was interviewed on CBS’s Face the Nation on Sunday and said that the war had exposed the relative futility of some measures taken to avert price shocks for consumers while warning that gas prices were not done rising, at least for now. Gas prices are nationally averaged at $4.46 for a gallon of low-grade fuel. Wirth said it was “very hard to say” that gas prices had peaked, as some administration officials have hurriedly insisted over the past month. Now, negotiations over a ceasefire deal have collapsed and Iran’s grip over the Strait of Hormuz has so far proved impossible for the U.S. to shake loose.
Does anyone care what CEO’s think anymore? They don’t speak to the people, they speak to the shareholders. All I hear is “My hugely grossly big bonus might be a little smaller this year”.
You got it all wrong.
An American oil company is going to have absurd windfall profits this year, because the global price for oil has skyrocketed while American production hasn’t gone down at all. So that CEO is warning everyone that he’s gonna have an extraordinarily large bonus this year.
Not all wrong. When speaking of just oil, I agree with you.
Exactly.
He’s making sure upfront that when he gets the Extra Large Bonus at the end of the year all the righteous anger of the people who are being fucked to pay for it is directed elsewhere.