Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTTodd Shriber, The Motley FoolSat, September 5, 2026 at 8:13 PM GMT+2 4 min readIf there's one sector that's littered with political boogeymen, it's the energy sector, oil producers in particular. That status is arguably amplified in a midterm election year in which affordability, including gas prices, is a marquee issue.So it's not surprising that some bellwether energy stocks have political targets on their backs. Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) learned that the hard way in early August when President Trump accused the largest domestic oil companies of making too much money off high oil prices caused by the war in Iran. He pushed both corporations to cut the prices consumers are paying at their local gas stations.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Chevron is still a buy despite barbs from the White House. Image source: Getty Images.The president's sharp words for Chevron came just three months after California's Democratic governor, Gavin Newsom, urged drivers in his state to boycott Chevron stations over high prices. So it'd appear this company is in bipartisan political crosshairs, but it's likely a case of bark being worse than bite, and it's not enough of a reason to sell this high-flying oil stock. Actually, I'm a buyer of Chevron because the long-term fundamental story may be too good to pass up.In terms of recent price action, Chevron stock is up 5.64% since the president made his comments, indicating that the will of the markets, not politicians, is winning out.Drilling down on more durable reasons to consider Chevron today, there's the Venezuela catalyst. Last week, the White House announced a deal with the South American nation that essentially grants the U.S. control over 65 billion barrels of oil. As one of my Foolish colleagues rightly points out, that's a potential windfall for Chevron.Chevron is validating that thesis because, on Sept. 1, reports emerged that the oil major is close to securing an agreement granting it access to another pair of fields in Venezuela's Orinoco Belt, one of the most oil-dense regions in the world.Venezuela's state-run oil company previously estimated that the Chevron unit operating in the country could pump up to 400,000 barrels per day when its Orinoco holdings fully ramp up. The addition of two more fields could represent a major increase to that estimate. In other words, Chevron may be rewarded for playing the long game in Venezuela. The company continued operating there over the years while many rivals departed, citing unfavorable political conditions.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info