When President Donald Trump walked into the White House, he didn’t just rebuild America’s economy—he reignited its energy independence. Joe Biden nearly snuffed it out with his green energy crusade. Now, as the nation braces for 2026, oil executives are sounding the alarm about a price storm that could reshape the entire energy landscape.
From deep inside the Permian Basin—the powerhouse of U.S. oil production—Chevron CEO Mike Wirth just dropped a bombshell on FOX Business’ Maria Bartiromo. “We’re prepared for prices in ’26 to be lower than they were in ’25,” Wirth revealed during the interview.
This wasn’t a Wall Street guess. Wirth runs the show in the region that produces 40% of America’s oil—a share expected to surge to 70% by 2040. He predicts 2026 will mark the “low point” before markets bounce back.
Diamondback Energy CEO Kaes Van’t Hof backed him up bluntly: “Economics drive capital allocation decisions. Today, oil’s at $57 a barrel. I don’t think we’re necessarily high-fiving with that oil price.”
Translation: American oil producers are bracing for a brutal year ahead. If prices collapse too far, the Biden administration’s dream of crippling fossil fuels could come true without them having to lift a finger.
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