Coronavirus Fallout Could Be The ‘Nail In The Coffin’ For Smaller Oil Companies
At the State of the Union in February, President Trump boasted that his administration’s deregulatory agenda had made the U.S. “energy independent.” It was a dubious claim at the time, but recent events stemming from the outbreak of the novel coronavirus have shown it to be even more of a ruse. This month oil prices plummeted about 25 percent and settled around $35 per barrel — the biggest slide in nearly 30 years.