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Posts tagged as “collapse”

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

‘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 and a steep decline  in prices. “Our capacity is full. The Saudis  are flooding this market 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…

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