Chevron CEO Sends Strong Message on Oil Price and Economy The warning signs have been flashing bright red for months, but it's only recently that the gravity of the situation has sunk in: the world is running out of buffers to cushion the shockwaves from the Iran conflict.
Chevron CEO Mike Wirth's candid assessment at a University of Texas energy conference last week should send a shiver down the spines of policymakers and oil industry insiders alike.
The mechanisms that helped absorb the initial disruption have largely been used up, leaving the global energy system more vulnerable than ever to price shocks.