Contrast with Moldboard: The question is a direct comparison, so line up what each plow does to the soil surface.
A moldboard plow fully inverts soil, burying residue and leaving bare soil exposed to erosion. A chisel plow only loosens soil WITHOUT inverting it, so crop residue stays on the surface — protecting against erosion.
Complete inversion and enhanced weed control are actually moldboard-plow strengths, and chisel plowing needs LESS fuel (shallower disturbance), not more — ruling out the remaining options.