Snip:
The CEO of US energy giant Chevron, Mike Wirth, warned on 4 May that crude oil shortages have begun due to the closure of the Strait of Hormuz and the effects of the US-Israeli war against Iran.
[…]
He went on to say that while the US would be less affected, it would not be exempt from the effects of the growing crisis. The last scheduled shipment of oil from the Gulf is being offloaded at the Long Beach Port that supplies Los Angeles and south California, Wirth said.
The situation in the Strait of Hormuz has caused effects “potentially as big as in the 1970s,” the CEO stated, referring to the 1973 Arab oil embargo.
[…]
Oil prices are once again surging as a result. The Brent crude benchmark for global oil prices hit $114.44, rising by six percent. As of 5 May, the price stands at just under $114.
We really needed the figurehead of one of the largest polluters on the planet to point this out, no one else knew about it for several weeks.
Thank you, the media, always on the ball and on the pulse.
Translation: “Hey poors, I want a raise. Thanks for happily taking one for me again!”
in response, a 2nd grade teacher making $37,000/year with a net worth of -$48,000 said, “No shit, Mike.”
