Chevron's CEO Is Warning of a 1970s-Style Oil Crisis. These 3 Energy Stocks Could Surge Before Summer.

On May 4, at the Milken Institute's Global Conference, Chevron (NYSE: CVX) CEO Mike Wirth laid out the argument that the Strait of Hormuz's closure, coupled with the resultant impact on global crude oil inventory and strategic reserves, point to a strong chance of an oil shortage, akin to the oil supply shocks of the 1970s.Only time will tell whether Wirth's forecast pans out, but this possible headwind could mean an investing opportunity may be opening up.U.S.-based downstream and midstream energy companies stand to benefit from falling overseas supply, which is good news for the following energy stocks: ConocoPhillips (NYSE: COP), Energy Transfer (NYSE: ET), and Occidental Petroleum (NYSE: OXY).Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool