What Chevron’s CEO Just Said About Global ‘Supply Outages’ Could Derail Trump’s Economic Momentum
Key takeaways
- The analyst who called NVIDIA in 2010 just named his top 10 AI stocks.
- The stock market keeps acting like nothing can go wrong.
- Speaking at the Milken Institute, Wirth warned that parts of Europe, Asia, and Australia are beginning to face potential “supply outages” tied to the Iran conflict.
What Chevron’s CEO Just Said About Global ‘Supply Outages’ Could Derail Trump’s Economic Momentum Rich Duprey Sun, May 10, 2026 at 4:07 AM GMT+7 5 min read CVX ^GSPC CL=F Quick Read Chevron (CVX) CEO warned of potential “supply outages” in Europe, Asia, and Australia tied to the Iran conflict, which could raise global oil prices and push U.S. gasoline prices higher despite domestic production strength; a $0.50 per gallon increase over two weeks costs a typical two-car household an extra $60 monthly and threatens consumer spending that accounts for 68% of GDP.
Rising energy costs act as an economic tax on consumers and businesses at a time when households are already stretched by food inflation, rent, and higher borrowing costs, potentially weakening consumer sentiment and spending despite strong labor market data.
The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE.