Forwarded from Ice Age Farmer
Chevron CEO admits oil shortages are now hitting and without energy, economies will start shrinking:
He echoes what I'd said weeks ago, that the IEA-ordered release of reserves has slowed the impact, but that we're now hitting the end of that:
"We will start to see physical shortages," Wirth said, noting that surplus supply in commercial markets, tankers in so-called shadow fleets avoiding sanctions, and national strategic reserves were being absorbed.
"Demand needs to move to meet supply," he said. "Economies are going to have to slow."
He pointed out that the last scheduled shipment of oil from the Gulf was being offloaded at the Port of Long Beach, which supplies Los Angeles and southern California.
https://www.reuters.com/business/energy/chevron-ceo-says-physical-shortages-oil-supply-begin-appearing-2026-05-04/
He echoes what I'd said weeks ago, that the IEA-ordered release of reserves has slowed the impact, but that we're now hitting the end of that:
"We will start to see physical shortages," Wirth said, noting that surplus supply in commercial markets, tankers in so-called shadow fleets avoiding sanctions, and national strategic reserves were being absorbed.
"Demand needs to move to meet supply," he said. "Economies are going to have to slow."
He pointed out that the last scheduled shipment of oil from the Gulf was being offloaded at the Port of Long Beach, which supplies Los Angeles and southern California.
https://www.reuters.com/business/energy/chevron-ceo-says-physical-shortages-oil-supply-begin-appearing-2026-05-04/
Reuters
Chevron CEO says shortages in oil supply will begin appearing
Chevron Chairman and CEO Mike Wirth said on Monday that physical shortages in oil supply would begin appearing around the world because of the closure of the Strait of Hormuz, through which 20% of global crude supply passes.
Forwarded from The Conspiracy Hole (Brody Hyde)
Amsterdam bans public adverts for meat and fossil fuels as part of its effort to reach carbon neutrality by 2050.
Forwarded from Schiff Sovereign - Official Telegram Channel
Schiff Sovereign
Another crushing blow to the ‘Spirit’ of America | Schiff Sovereign
The US presidential election of 1912 almost sounds like the setup to a joke. Two Republicans, a Democrat, and a Socialist walk into a bar… But it’s true: William Howard Taft and Teddy Roosevelt split…
Forwarded from Robin Monotti + Cory Morningstar
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Forwarded from Slavyangrad (J Asbery)
Iran war to push 200,000 UK households into poverty
The war in Iran is set to push a further 200,000 households into poverty, top economists have warned.
Rising energy bills, petrol prices and food costs will all put pressure on family finances, according to the National Institute of Economic and Social Research (Niesr).
At the same time, an economic slowdown will undermine pay growth and lead to a rise in unemployment, reducing incomes and worsening living standards across the economy, particularly for the poorest households.
@Slavyangrad
The war in Iran is set to push a further 200,000 households into poverty, top economists have warned.
Rising energy bills, petrol prices and food costs will all put pressure on family finances, according to the National Institute of Economic and Social Research (Niesr).
At the same time, an economic slowdown will undermine pay growth and lead to a rise in unemployment, reducing incomes and worsening living standards across the economy, particularly for the poorest households.
@Slavyangrad
Forwarded from Edward Dowd
Media is too big
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A person who’s obsessed with cruise ship TikTok’s weighs in on how strange this Hantavirus situation appears to her.
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Forwarded from Disclose.tv
Media is too big
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NEW - India's PM Modi calls for citizens and businesses to conserve fuel, carpool, use electric cars and adopt the Covid-19 strategy of working from home, "in the interest of the country."
@disclosetv
@disclosetv
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"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists." —Ernest Hemingway
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Forwarded from 🔴 Blazing Press 🔴
🚨🚨Which Countries Have Announced Restrictions Amid The Ongoing War?
Fuel Rationing & Purchase Limits
In Sri Lanka, private vehicle owners can buy only up to a fixed weekly petrol quota using a QR-code–based national fuel pass system. Public holidays have also been declared for schools, universities, and non-essential government staff to reduce fuel use.
In Myanmar, an odd-even system has been put in place based on vehicle registration numbers determines when private vehicles can refuel. Severe shortages have also shut many petrol pumps.
In Bhutan, fuel sales in jerry cans have been prohibited to prevent stockpiling. Supplies are being prioritised for emergency and essential services.
In Slovakia, authorities have imposed official purchase quotas to stop diesel hoarding.
In Slovenia, the country’s second-largest fuel retailer has capped how much fuel cars and trucks can buy per visit.
In South Africa, controlled allocation mechanisms have been introduced across industries to manage diesel supply and prevent panic buying.
In Kenya, fuel rationing has begun domestically, alongside a temporary halt on exports as reserves run low.
Workweek Reductions & Remote Work
In Pakistan, government offices now function on a four-day work week. Fuel allocations for departments have also been cut by 50 per cent.
In Philippines, civil servants have shifted to a four-day work week, and non-essential official travel has been restricted.
In Laos, mandatory work-from-home rules for civil servants are in place, along with rotational shifts to reduce commuting.
In Vietnam, businesses are being encouraged to enable remote work, and citizens are advised to use public transport more frequently.
Transport & Mobility Restrictions
In New Zealand, the government is considering reviving weekly “car-free days," requiring motorists to stay off roads one designated day each week. An Amber Alert system is monitoring national fuel reserves, and soaring prices have led to large-scale flight cancellations by the national carrier.
In Vietnam, public transport use is being actively promoted over private vehicle travel.
Power & Electricity Conservation Measures
In Bangladesh, all educational institutions have moved to online classes to ease grid pressure. Households face scheduled multi-hour rotational power cuts so electricity can be diverted to priority export industries.
In Egypt, energy-saving rules require malls and restaurants to close by 9 pm and government buildings by early evening. Illuminated advertising billboards have been switched off.
Fuel Supply Disruptions & Station Closures
Philippines has officially declared a nationwide energy emergency in response to rising fuel costs and supply issues linked to the Iran war’s impact on global oil markets. This is a formal executive order to activate emergency measures aimed at stabilising fuel supply and prices.
In Cambodia, around one-third of fuel stations have shut operations due to supply shortages.
In Myanmar, widespread petrol pump closures have accompanied rationing measures.
https://www.news18.com/explainers/what-is-energy-lockdown-decoding-the-term-thats-gaining-momentum-amid-iran-war-ws-el-9995901.html
Fuel Rationing & Purchase Limits
In Sri Lanka, private vehicle owners can buy only up to a fixed weekly petrol quota using a QR-code–based national fuel pass system. Public holidays have also been declared for schools, universities, and non-essential government staff to reduce fuel use.
In Myanmar, an odd-even system has been put in place based on vehicle registration numbers determines when private vehicles can refuel. Severe shortages have also shut many petrol pumps.
In Bhutan, fuel sales in jerry cans have been prohibited to prevent stockpiling. Supplies are being prioritised for emergency and essential services.
In Slovakia, authorities have imposed official purchase quotas to stop diesel hoarding.
In Slovenia, the country’s second-largest fuel retailer has capped how much fuel cars and trucks can buy per visit.
In South Africa, controlled allocation mechanisms have been introduced across industries to manage diesel supply and prevent panic buying.
In Kenya, fuel rationing has begun domestically, alongside a temporary halt on exports as reserves run low.
Workweek Reductions & Remote Work
In Pakistan, government offices now function on a four-day work week. Fuel allocations for departments have also been cut by 50 per cent.
In Philippines, civil servants have shifted to a four-day work week, and non-essential official travel has been restricted.
In Laos, mandatory work-from-home rules for civil servants are in place, along with rotational shifts to reduce commuting.
In Vietnam, businesses are being encouraged to enable remote work, and citizens are advised to use public transport more frequently.
Transport & Mobility Restrictions
In New Zealand, the government is considering reviving weekly “car-free days," requiring motorists to stay off roads one designated day each week. An Amber Alert system is monitoring national fuel reserves, and soaring prices have led to large-scale flight cancellations by the national carrier.
In Vietnam, public transport use is being actively promoted over private vehicle travel.
Power & Electricity Conservation Measures
In Bangladesh, all educational institutions have moved to online classes to ease grid pressure. Households face scheduled multi-hour rotational power cuts so electricity can be diverted to priority export industries.
In Egypt, energy-saving rules require malls and restaurants to close by 9 pm and government buildings by early evening. Illuminated advertising billboards have been switched off.
Fuel Supply Disruptions & Station Closures
Philippines has officially declared a nationwide energy emergency in response to rising fuel costs and supply issues linked to the Iran war’s impact on global oil markets. This is a formal executive order to activate emergency measures aimed at stabilising fuel supply and prices.
In Cambodia, around one-third of fuel stations have shut operations due to supply shortages.
In Myanmar, widespread petrol pump closures have accompanied rationing measures.
https://www.news18.com/explainers/what-is-energy-lockdown-decoding-the-term-thats-gaining-momentum-amid-iran-war-ws-el-9995901.html
News18
What Is 'Energy Lockdown'? Decoding The Term That's Gaining Momentum Amid Iran War
Several countries have announced restrictions, aiming to conserve fuel, gas and electricity as global oil supply remains hit amid Iran war.
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