🔴 US shale industry bound to crash

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The drop in oil prices is likely to be short-lived, veteran stock broker Peter Schiff told RT, since the deflation of the whole US debt bubble and crash of the dollar will make the prices of oil and other commodities bounce up.
Decline in demand for oil due to the coronavirus epidemic, further reinforced by the demise of the OPEC+ production cuts agreement, has crashed the US and world markets, sending traders into a panic-selling mode. The ongoing market turmoil will certainly hit the oil industry heavily, but the impact is likely to reach far beyond it, CEO and chief global strategist at Euro Pacific Capital Peter Schiff believes.

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