Former Energy Secretary Rick Perry is lobbying on behalf of the US shale oil industry, which faces "an existential threat" due to the collapse of crude oil prices, according to the Financial Times.
Appearing on Fox's "Tucker Carlson Tonight" on March 31, Perry warned the oil industry is "on the verge of massive collapse" because Saudi Arabia is flooding the world with cheap oil.
Perry has been talking up president Trump's bid to cut a deal with Saudi Arabia and Russia to curb production, a rumored deal that led to a spike in oil prices.
Following Trump's tweet about a potential Saudi/Russia production cut, crude oil registered its biggest single-day price jump, 25 percent to $25.32 on April 2.
Most shale producers need oil to be priced at $50 per-barrel to turn a profit.
The FT reports that Perry, who was governor of Texas, has "deep ties to the Midland crowd," referring to the town that is the epicenter of the Lone Star State's shale region.