economy
Chevron says no quick fix for gas prices as Trump takes on Big Oil: ‘It’s going to take time’
Her comments come shortly after President Donald Trump ordered an investigation into Big Oil, accusing them of "gouging" consumers.
TL;DR
- Chevron CFO Eimear Bonner expects U.S. gasoline prices to fall as the Middle East situation normalizes.
- President Trump has ordered an investigation into "Big Oil," accusing them of "gouging" consumers.
- Bonner stated that energy majors are "doing everything we can" but that it will take time for fuel prices to decrease.
- Trump wants gasoline prices to be around $2.25 per gallon.
- Oil prices have fallen sharply, with Brent crude futures hovering at pre-war levels.
- Chevron plans to grow production by 7% to 10% this year.