CERAWEEK - Chevron CEO calls for sustainable, not extreme US Energy Policy Swings

Mike Wirth, the CEO of Chevron, said that he would prefer to see a more stable energy policy in the United States than a swing from extreme to extreme.

The first weeks of Donald Trump's second term in office were marked by a rapid revamp of government, and the reversal many of the policies on energy of the previous administration.

Most of these policy changes were made by executive order, rather than legislation.

The policy reversals had a direct effect on Chevron. Trump announced late last month that he would end a license Chevron had been granted since 2022 for it to operate in Venezuela, and export its oil.

Wirth said at the CERAWeek conference on energy in Houston that "swinging from extreme to extreme is not the best policy approach."

We need a consistent, durable policy because we have invested capital for many decades.

Wirth stated that permits for energy projects is one example of a sector in need of consistent policy.

We need to see this stuff in law so that it is more durable and doesn't risk being swung in another direction by future administrations.

He said that the United States accounted for a disproportionate amount of the oil and gas produced by Chevron.

The CEO reiterated the fact that the Gulf of America's No. 2 oil producer will increase its output to 300,000 barrels per day over the next few years. The CEO reiterated that the No.

Wirth predicted that the industry would continue to invest in Asia where there are better economic prospects than Europe. (Reporting and writing by Sheila Dang, Editing by Margueritachoy)

(source: Reuters)