Chevron's CEO Is Warning of a 1970s-Style Oil Crisis. These 3 Energy Stocks Could Surge Before Summer.
Key takeaways
- Only time will tell whether Wirth s forecast pans out, but this possible headwind could mean an investing opportunity may be opening up.
- Our team just released a report on a little-known company, called an "Indispensable Monopoly," providing the critical technology Nvidia and Intel both need.
- ConocoPhillips has a substantial production presence in the United States.
Thomas Niel, The Motley Fool Sat, May 16, 2026 at 10:20 PM GMT+7 4 min read COP CVX CL=F ET OXY On May 4, at the Milken Institute s Global Conference, Chevron (NYSE: CVX) CEO Mike Wirth laid out the argument that the Strait of Hormuz s closure, coupled with the resultant impact on global crude oil inventory and strategic reserves, point to a strong chance of an oil shortage, akin to the oil supply shocks of the 1970s.
Only time will tell whether Wirth s forecast pans out, but this possible headwind could mean an investing opportunity may be opening up.
Will AI create the world s first trillionaire? Our team just released a report on a little-known company, called an "Indispensable Monopoly," providing the critical technology Nvidia and Intel both need. Continue »