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'We are the verge of a massive collapse': Ex-Energy Secretary Perry says COVID-19 will ravage oil industry

Former Energy Secretary Rick Perry believes that the oil industry could collapse because of the dramatic decrease in demand worldwide caused by the coronavirus outbreak. “Our capacity is full. The Saudis are flooding this market with with cheap oil,” Perry told Fox News Tucker Carlson on Tuesday night. “I’m telling you, we are on the verge of a massive collapse of an industry that we worked awfully hard, over the course of the last three or four years, […]
Source: The Daily Jeff – News from Camberidge OH

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