Chevron CEO Mike Wirth says the Biden administration’s oil and gas policy pushes up prices and “undermines energy security” for U.S. allies, The Financial Times’ Myles McCormick and Jamie Smyth report. Wirth told the Gastech conference in Houston on Tuesday that President Joe Biden’s “attacks on natural gas” and freeze on new export permits for liquefied natural gas terminals had put “politics over progress” and would hurt climate efforts. “It raises energy costs by taking potential supply off the market… It threatens reliable supplies of LNG, undermining energy security for our allies. And it slows the transition from coal to natural gas, meaning more emissions not less.”
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVX:
- Unusually active option classes on open September 16th
- Chevron price target lowered to $189 from $205 at Mizuho
- Chevron stresses importance of pumping oil in Venezuela, WSJ reports
- Chevron boosts oil, natural gas recovery at two facilities in Gulf of Mexico
- Chevron awarded GHG assessment permit offshore Western Australia