Hal Turner
Today is August 3, 2026 and for a full five months, I have been warning readers of this website and listeners to my talk-radio show, that we were heading into a massive shortage/outage of fuel. Specifically, I warned about Diesel and gasoline.
I attributed this coming disaster to the poorly-thought-out conflict with Iran, which closed the Strait of Hormuz, and thereby shut down about twenty percent (20%) of the world’s DAILY oil needs.
Now, the Chief Executive Officer (CEO) of Shell Oil Company, Mr. Wael Sawan, (Image above) has publicly declared the world is now running short on both Diesel Fuel and Gasoline.
Appearing on CNBC’s “The Street” Mr. Sawan explained why this is now happening, and UNAVOIDABLE.
When the Iran war disrupted Middle Eastern jet fuel exports, aviation fuel prices spiked. Refineries globally, including Shell’s, responded rationally to market signals. They maximized production of the highest-priced product.
Shell increased its jet fuel production by approximately 20% in response to that price signal, according to Sawan‘s remarks.
That 20% jet fuel addition came at a direct cost. Refinery units running at maximum throughput, allocate barrel inputs across competing product streams. More jet fuel output means less diesel and gasoline from the same barrel of crude.
As the jet fuel shortage eased and aviation activity normalized, the diesel and gasoline deficit that accumulated during the pivot is now showing up in product-market signals.
“The price signals are that we are short on diesel and gasoline,” Sawan said. Remember, he is a CEO with real-time visibility into global product markets telling investors and viewers that the next leg of fuel-cost pressure will arrive at the pump, not the aircraft gate.
“The Boy Who Cried Wolf”
For the last five months, this website and its radio show have been shouting from the rooftops for readers and listeners to store-up spare fuel, fill home home heating oil tanks and gas/propane tanks, and to stock-up on food.
I issued these warnings because I knew that everything . . . literally E V E R Y T H I N G (except electricity and natural gas) must, at some point, move by truck. Trucks run on Diesel fuel. I knew that when Diesel fuel runs short (or runs out) all those trucks have to stop.
I explained over and over that no fuel means no trucks to pick up food from farms or meat from ranches, and bring it to processing centers. Then, there’s no trucks to bring the food from processing centers to distribution centers. Finally, no trucks to bring food from Distribution Centers to Supermarkets. Ergo, empty store shelves.
I said these things and was viciously ridiculed as “The Boy Who Cried Wolf.” I was belittled and told “You’re not an expert, let the experts deal with this.” Others mocked me as “Chicken Little, the sky is falling” and I was bluntly told “If there was actually a real problem, the experts would have told us about it.”
I was accused of “sensationalism” and publishing “Click bait.” Others said my reports were nothing more than “Doom Porn.”
Well, well, well, here we are five months later and . . . . lookie, lookie, here . . . . The Chief Executive Officer of Shell Oil, the fourth largest Oil Company on planet earth, is now confirming what I have been shouting about for months! It turns out that ___ I ___ was right, and all those who mocked, scorned, and belittled me, were wrong. Imagine that!
But wait, It’s not just Mr. Sawan. Months ago, on May 28 (HERE) I also reported that Neil Chapman, Senior Vice-President of Exxon, told the Sanford Bernstein Strategic Decisions Conference:
