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.
Many U.S. states and countries around the world have ordered their citizens to stay home in order to contain the spread of the virus. And airlines haveas the number of passengers has fallen off. Fewer cars on the road and planes in the sky means far less demand for oil. "There's this host of Americans who their entire future – taking care of their family paying their mortgages – is tied directly to the energy industry," Perry said."It's a driver of a massive amount of our American economy."
Good only4 frauds over due
Good news! Less for them more for the planet.
Rick is always late to the show. Someone should tell him about our little distraction called the Pandemic.
Payback for ripping of the American public the years by charging those rights exorbitant prices!
Perhaps, with this downturn, the Interior and SecBernhardt will rethink access for drilling in our public lands, thereby protecting our wildlife and environment.
It's about time. People are dying. Oil is not my biggest concern right now.
Let the oil companies show how much money they have in their banks, then let let them ask for help!
😂They are getting scared.
Oh well. Trump will be held accountable in November.
Gee, maybe time to invest in renewables.
Let it.
Should I explain to this dude my wife and r kids have MBA is business and accounting let’s look at spreadsheets they will be ok
Who cares? Exxon spent $126B on stock buybacks between 2006-2016 Fuck them and their bailout
Who cares greedy MF come on now look back in history not hard to do all businesses r taking hits stop the nonsense
Hmm so the price of oil has nothing to do with Covid. Educate yourself Saudi Arabia is in a pissing match with Russia. Stop spreading rumors
Shouldn't they have six months of savings? Maybe they can get a loan?
A massive consolidation is a certainty!
Laughs in “Fuck Putin, OPEC, and Aramco “
After they have gouged countries and people for years . . . nice to have a little karma! I guess the sheiks will have get rid of a few wives, since they won’t be able to afford them anymore. 😂😂😂
They have billions and billions they are far from collapsing, go feed your bullshit elsewhere. 🙄
When the time comes, the oil will still be in the ground.
Call me when gas goes below $1 thanks bye bye
Time to pivot to clean energy .
✌🏻✌🏻Deuces
SO SORRY ..... Investors took one hell of a wack ... investing in Oil is a complete mistake ... maybe it paid off a long time ago ... People who invested lost their ass in the past ... because of very low oil prices ... NOW its time for all the people in oil Corporations to lose
Bahahaha!! Of all the stupid crap out there I think this takes the cake! A lot of people are hurting but the oil folks will be the last ones to 'collapse'...
Aw, poor baby.
Well no one was talking about Americans finances collapsing when we were paying almost $4 a gallon years ago. They should have a put away for a rainy day like this!!
This clown 🤡
Nothing is going to be allowed to collapse.
And?
Wanna make $5⃣0⃣0⃣0⃣ real quick❓ lmk👋🇺🇸🇺🇸🇺🇸
Let's restart the vinyl record industry enmasse!!!!
Sure, they earns pennies.
They’ll survive... they’ve been gouging us a long time
C'mon you liars, this is the Saudi's trying to take out the Russians, why does the corrupt MSM ignore this? The reduction in price is better than any tax break!
Oh, didn’t they save some money for a rainy day. Don’t Republicans always criticize people who get into a pinch for not saving? The oil industry can go fck itself.
Good!!
Idiot. I love how he mentions Saudis Arabia in his first sentence but not Russia. The price battle was forced by both of them. And then to complain many families mortgages and families are tied to this... no shit just like a lot of things right now. Maybe they should work more.🙄
🐂💩🤣🤣🤣🤣🤣
Literally if there is any industry that isn't going to collapse it's that one.
I honestly don’t feel that bad about this.
Please...if all the other industries in the world can survive this hit, then the oil industry can suck it up and move on. They have been controlling prices and reaping the profits for years. Their turn in the barrel for a change!
It will survive.
Please shut him up. He is set for life after his final deal in Ukraine. Didn’t have the “balls” to tell the truth.
Mother earth is happy. Waters clear of cruise ships, canals free of gondolas...pollution going down. Let gas go down to .29...let it collapse
Hey 1%! Happy now?
15 years in the future and the tweet will be the same but this time caused by Electric Vehicles and not Trump's two buddies Saudi and Russia.
Rick Perry comes out from his hiding place after scurrying for cover during and after impeachment hearings that identified him as a key trump stooge in the do us a favor, though, scandal.
I would like to see it down to a $1.00 a gallon. Let your grand kids see what cheap gas is all about. There is no reason gas should be at $1.70 a gallon right now.
And that's a bad thing
fucking great !
Are we(the working people) supposed to feel sorry for them?
That’s a real FU*KING shame!!!!
Good.
YOU SHOULD BE SILENT!!! Coronavirus is a Formel to kill us!!!
Wow, instead of making billions they will be making millions.
Don’t talking without Coronavirus, this is today Tabu around the World!
Is the cost/reward worth it? I say hard no!
Yeah but... I just paid $1.55/gal to fill up my truck
Wait. So is this an admission that decrease in demand, not policy, is what is driving the decline of the oil industry?
Not gonna let foreign oil bust the USA oil industry!! Sure didn’t mind letting foreign labor bust and eliminate the USA 🇺🇸 textile industry!! RegulateIndustriesToMaintainUSAproductionACROSSTHEBOARD
Cry me a river.
The oil feud between the Saudis & Russia is doing the most damage. Why not headline that?
We're not supposed to be sad about that, are we?
Now we can invest in our future with renewable energy and the earth... perhaps it will still be here for our great grandkids.
So gas should be super cheap from now on, sounds like a win
Cry me a River!
No one is going to listen who has exhibited questionable credibility in the recent past.
Excellent news! Maybe now we can put serious efforts into renewable energy like solar, wind, and hydro initiatives. rewnewableenergy solar windpower hydropower
He says they’ve built the US into the top oil producers for last few years and that’s great but I don’t feel sorry for them because in that same time they didn’t pass the benefits to domestic consumers and just continues to enrich themselves and their small circle
Lol
progresivetrend No shit Sherlock. That news is about 6 weeks old.
Greenies take note!
Good.
They’ve made so much money off of us.
'If we woke up a year from now, and there were five big companies because all of these independents were gone out of business ... I would suggest that would make a lot of Americans really nervous,'
He has no say here.
Remove the American soldiers out of saudi arabia & put sanctions on russia & saudi Arabia
Why should we be supporting any industry, especially a well established one? If they don’t share profits in the great times (while receiving subsidies) why should we bear costs in bad? If renewables stand on their own then oil should be much better positioned to do the same.
Too F-CKING BAD!!!
It says a lot about this administration that Rick Perry has become an expert.
American problem isn’t Coronavirus, American problem is CAPITALISM!!!
I thought we were independent. Why did we sell our reserves. We need them now.
It'd be nice if the billionaire owners/CEOs/corps/investors cover for themselves? Americans have been bled as hard as possible by corps and taxes for decades - enough with further bleeding us to help the rich who NEVER help anybody but themselves.
Disruption brings innovation
It’ll rebound. This won’t be forever. They have been raping our economy for years so it’s about time the US population takes a break from high fuel prices.
Setting it up to give the industry some more needless tax breaks!!oilindustrygreed
Good.\\
Not that I'm sad FINALLY THE OIL INDUSTRY HAS TO TAKE A LOSS, fudge been making trillions for year, plus those owners,won't feel a freaking loss,but our worker's lose jobs, cause the heads of these companies, keep their trillons and not spread it out to help all to live.
Good, then maybe they'll stop having wars over oil and invest in clean energy.
The US dollar could go with it.
This is so wrong. The oil industry may collapse because these complete idiots pumped themselves into bankruptcy. This sector has been getting destroyed long before the virus. They rely on OPEC to manage their business. WE. DONT. NEED. MORE. OIL.
Gee that would be a shame
If the worlds population dies who gives a flying flock?
Did he just figure this out?
Screw this virus we all need to get our asses back to work and play. Anti-American behavior.
GOOD. FUCK THOSE GREEDY CORRUPT CRIMINALS.
Thoughts and prayers.
Oh he’s trustworthy...cough.
He is a liar. The war between Putin and crown prince started this a month ago.
“Could” 🙄
Why do we care what he thinks?
Tots Pears
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