While the broader American economy grapples with the coronavirus pandemic, the energy sector is in freefall. Oil prices have plummeted nearly 60 percent in just a month. Benchmark prices now hover at just $22 per barrel, a level at which American energy companies will hemorrhage cash. But the virus alone is not responsible for the carnage in the energy markets. Much of the blame lies at the feet of Crown Prince Mohammed bin Salman of Saudi Arabia, who recently launched a price war that may cripple one of America’s most innovative industries.
