Oil prices are already low and they continue to decline as more downward pressure is expected. On Friday December 12th the International Energy Agency (IEA) forecast a decline in demand for 2015 and they further predicted that healthy non-OPEC supply gains were poised to aggravate a global oil glut. The current outlook for global oil demand for 2015 was cut from 230,000 barrels per day (bpd) to 0.9 million bpd.
Why Oil Prices Matter for Renewable Energy
An Upside to Low Oil Prices?
Low Oil Prices will Slow Renewable Energy and Impede the Growth of the Green Economy
Higher Oil Prices a Blessing for Fracking but what about Renewables?
High Oil Prices Stimulate Renewable Energy
The Economic Costs of Canada’s Oil Obsession
The Keystone XL and Rising Fuel Prices