# The chairman of global oil giant Chevron says Australia is a prime example of a country that has risked fuel shortages because of poor policy choices.

*business · news · 2026-05-31 · Australian Financial Review*

## Key points

- Chevron's chairman criticized Australia for policy decisions risking national fuel shortages.
- Chevron deems developing new Australian oil and gas reserves too expensive compared to other options.
- Chevron's Australian projects struggle to attract investment compared to the company's global ventures.
- Australia's energy security is flagged by Chevron as potentially threatened by current regulatory approaches.

The chairman of global oil giant Chevron says Australia is a prime example of a country that has risked fuel shortages because of poor policy choices, adding it would be too expensive to develop new local reserves. Michael Wirth, speaking at a major investor summit in New York, said projects in Australia could not compete for capital against Chevron’s other growth options. The Houston-headquartered company is Australia’s biggest exporter of liquefied natural gas and is among the world’s five largest oil producers by market value, behind Saudi Aramco and ExxonMobil. Loading...

**Companies:** Chevron
**Countries:** Australia, United States

[Read the full story on Australian Financial Review](https://www.afr.com/companies/energy/chevron-warns-of-australian-fuel-shortage-risk-blames-policy-choices-20260529-p6022l)

---

Canonical: https://newsio.io/n/b2a437d8-7bac-40ed-bbe9-9696dd8fb4b4/the-chairman-of-global-oil-giant-chevron-says-australia-is-a-prime-example-of-a
Summarized by Newsio from Australian Financial Review. https://newsio.io/how-it-works