IT BEGINS IN JULY, EXXON AND CHEVRON WARNING

Added: 2026-06-04

[00:00:00]people. We have more warnings of even higher energy prices are coming our way very very soon. And from what we're hearing from a lot of people out there, it's actually mid July is going to be the shock moment for the United States.

[00:00:15]Now, let me just be clear. We've heard these kind of warnings before and we've seen things come and go. Things never really pop off like some people predicted or have warned us. So, is this a lot of fear-mongering or is there something to this? Well, first let's hear from a friend on just the state of everything, the economy, the cost, especially the cost at the pump, uh, and these fuel shortages making everything else go up in price because transportation cost. And we've got a shocking number on the oil strategic reserves. How low are they? They're really, really low. We're going to get into that. the warning from Exxon Mobile's uh chief from skyrocketing energy prices coming up here in just a few weeks. But first, let's hear from a friend before we get into that.

[00:01:05]All right, so let's hear from this person right here and give her thoughts.

[00:01:09]And the reason I'm playing this is because I think her thoughts and her feelings right now reflect most of Americans. A lot of Americans, maybe most Americans. See what you think.

[00:01:20]How are we surviving in this economy?

[00:01:24]>> I don't know.

[00:01:25]>> How, please? Like, okay, I I just feel like I need to come on here and really show what it's like trying to survive as a single income family.

[00:01:38]Okay, we live in Nebraska.

[00:01:41]I can't work because I can't afford child care.

[00:01:47]Child care is going to cost more for my three kids than what I'm going to make a month. Everything I've looked at, $3,000 a month for my three kids to go to daycare.

[00:02:03]I'd be lucky to make 2500 a month. And that's pushing it.

[00:02:10]We can't afford our rent. Thank God that we have landlords that are extremely understanding.

[00:02:19]But how are we doing this?

[00:02:22]I mean, literally, my husband's next paycheck and what we have in the bank right now is going to go to rent and it's going to leave us with literally zero.

[00:02:34]>> Zero. No money.

[00:02:37]>> Honey, why were you crying?

[00:02:39]>> What? How are we doing this? What happened to our world?

[00:02:45]I have a 22year-old mom who's currently worried about losing her house and her car because we can't afford it.

[00:03:02]>> I'm not trying to make my kids homeless.

[00:03:05]Mommy, why are you >> I know I have family that is going to help us in any way possible, and I'm more than thankful for that, but what are we doing?

[00:03:12]>> Monster truck.

[00:03:13]>> How are we doing this? How are >> All right. The reason I played that, folks, is because that is actually the position of most people when people are living paycheck to paycheck. They're one paycheck away from being homeless, having to borrow money, having to live with a relative. And with the warnings that just came out from Exxon Mobile CEO, we're going to get into that here in a moment. Uh was it the CEO? Somebody at Exxon, we'll talk about it, but things could be about ready to get even worse.

[00:03:45]So, people in her shoes that are already very upset. Obviously, she's upset. How upset are they going to be when oil goes to $160 a barrel? And she's driving around her car right now. She said she's in Nebraska. What's oil in Nebraska? Or gas rather? is at about $4 a gallon. It's about six here in California. So, I'm thinking it's probably between 380 and 390 in Nebraska if I'm not mistaken.

[00:04:09]What's going to happen if oil price spike even more? How are people like this going to get by? Right. Take a look at this warning here. Let me know what you think about this.

[00:04:19]Exxon and Chevron, okay, it's more than one. Exon Chevron are warning that oil prices could skyrocket in the coming weeks. Why? And are their warnings legitimate or are they just guessing or are they just fear-mongering? Are they just trying to sound the alarm on the news to get get views? What are they talking about here?

[00:04:39]Well, let's lay it out. Oil prices have cooled off over the past couple weeks due to optimism that the US and Iran are close to a peace deal that would reopen the straight of horn moose. Brent oil, the global benchmark price was recently around $90 a barrel. We saw it jump up to like 112, drop down to 90. It's been very volatile. I've been trading that, by the way. Uh, doing okay on it. Um, down from $110 a barrel in midmay. Brent is still up more than 50% on the year, though. That's and it almost doubled at one point when it was up at about $110.

[00:05:13]Uh, however, the warning comes as follows. The straight of Hormuse closure is causing the biggest oil supply disruption in recent history. The oil production in the Persian Gulf has plunged by more than 50%. That has forced the global economy to tap into its oil storage to bridge the gap. We're going to talk about the US here in a moment. How low are our inventories here in the US? And it's not really being talked about that much.

[00:05:44]Uh including national emergency stockpiles such as the US strategic reserve. The world is burning through a record 8.7 million barrels per day from the stock piles. According to an estimate by Goldman Sachs, that total supply loss since the war began exceeds 1 billion barrels. That's billion with a B.

[00:06:04]Now for the warning, global oil inventory levels are approaching the danger zone. Exxon's Neil Chapman warned, quote, "You can debate whether that's going to hit those really low levels in two weeks or three weeks, but once you get to that point, you'll see the price shoot up." Chevron CEO Mike Worth made a similar comment. Over the next few weeks, we're likely to see those pressures flow through more direct to physical prices, and there's more upward pressure that I would expect to see as we get into late June, early July. So, the woman that was crying earlier, barely scraping by, like half of the country right now, living paycheck to paycheck, what's going to happen, folks? Uh, could this be the breaking point? Or is this all a bunch of nonsense, a nothing burger, false alarm, uh, fearmongering, and there's nothing to worry about because the powers that be, they're not going to let that happen to us. The powers that be, they love us, right?

[00:07:12]They care about us. They're not going to let this happen, would they?

[00:07:18]And now, let's talk about how low these reserves are. And going back to this warning, I know a lot of you are probably saying, "That's a nothing burger, JJ. Come on. We've seen these warnings before. Nothing ever happens."

[00:07:30]And let me kind of think about that for a minute. Nothing ever happens. Is that really true? Nothing ever happens. If you look back at 10, 20, 30 years, nothing's ever happened. H interesting.

[00:07:39]Okay. Well, I think things have happened. It's just that people get so used to the norm and they get so used to nothing happen nothing happening several times in a row.

[00:07:51]Kind of like if you if you've ever played baseball and you're at bat and the pitcher, he's throwing the pitch.

[00:07:59]Curveball.

[00:08:00]Okay, it was a ball. Wasn't in the strike zone. I didn't swing at it.

[00:08:04]Another curve ball. Oh, that was a strike. Keeps on throwing curve balls.

[00:08:08]Finally, it's three and two, right?

[00:08:12]Three balls, two strikes. One more strike and you're out. Okay, I better swing at this. It's been all curve balls. It's probably going to be another curve ball. All of a sudden, he throws a fast ball high and inside and you don't even get your bat around because you're waiting for a curveball.

[00:08:26]Things appear to be normal or the same thing over and over. Nothing burger.

[00:08:33]Nothing's happening. Fear-mongering.

[00:08:36]Nothing burger. Fear-mongering.

[00:08:38]Nothing's happening. Till something happens. The US oil reserve approaching all-time low. I would say that's something, right? Approaching alltime low. You don't really notice it. There's still gas in the pumps.

[00:08:50]It's not $10 a gallon yet, but something's happening. Releases occurred during Operation Desert Storm in 1991 after Hurricane Katrina damaged respond facilities in the Gulf 2005, also following disruptions caused by the Libyan war had oil reserves at lows.

[00:09:10]But recently, data from the US Energy Information Administration shows how the US has drawn down its strategic petroleum reserve in recent years. So, it's not just since the Iran war. It's been going down, down, down. They've been using this reserve even outside of an emergency just to keep prices from spiking up.

[00:09:31]Why is the emergency stockpile dwindling? Since the war began in Iran, however, the US has again relied on the oil reserves and one of its many attempts to curb the rapid rise in prices.

[00:09:45]And how low is it? Well, in March, they had to release about 172 million barrels from the reserve over 120 days as part of a global push to lower energy prices. This is taking place alongside dozens of other member nations of the International Energy Agency which have collectively pledged to release 400 million barrels from their energy reserves. But while the latest emergency releases have seen reserves drain rapidly, the amount of crude in the SPR has been dwindling for years. So this is just the latest depletion in what's been going down for a long long time.

[00:10:27]And by the drop and the magnitude of these drops, we're going to be at an all-time low very, very soon. We're quote, "We're well on our way towards the minimum operating level of 240 million barrels."

[00:10:43]And that was recently declared.

[00:10:46]uh once we fall below 300, that is a red flag warning. And this will create problems that we've never seen in this country in a very very very long time because prices will spike. Right? That's what people are saying. I'm not saying to go out and fill up all your tanks in case it does happen or buy a whole bunch of gas cans and put them in the garage or in the side of your house somewhere.

[00:11:09]Hopefully not the side of the house, but somewhere where there's no fire risk.

[00:11:14]Not saying to do that, but again, things seem normal. The curve balls come in one after another. Will there be a fast ball? Will there be something we don't expect? Anyways, drop a comment. Is this hot air? Is this a nothing burger or should we prepare for something big?

[00:11:29]People have been waiting for something big for a long time, right? And if you look back 10 or 20, 30 years, big things do happen. It's just when how to prepare, right? Get ready, folks. I'm always preparing. I'm always uh got one foot in the preparation side and one foot in the don't worry about it side.

[00:11:45]Kind of trying to stay balanced all around. moment. Drop a comment. Let me know what you think about this. After all, keep stacking. Bye for now. Peace.