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.
The difference is that now there are viable alternatives. Countries around the world are stepping up their renewables and embracing EVs. Trump’s stupid war could very well end up being the catalyst for the rest of the world ditching oil.
In many countries EV sales are higher than ICE sales.
https://www.youtube.com/watch?v=TZRTntfabOA
Not the US though.
In the US the Trump Administration is just doubling on making sure America’s Future is the early XX century (in more ways than one, even).