(Bloomberg) -- US oil production is being held back by inconsistent energy policy, Chevron Chief Executive Officer Mike Wirth said. 

“I hear people say, ‘We’re back up to record levels of production,’” Wirth said during the American Energy Security Summit in Oklahoma City on Monday. “With better policy we would be beyond that.”

Energy policy needs to balance environmental concerns with affordability and reliability, and remain stable, Wirth said. 

“We really do need more consistency, more predictable and durable policy, to enable what is the greatest sector of our economy and the biggest single lever to our ongoing global competitiveness,” he said. 

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