Slump in global oil prices spells bad news for green initiatives
The price war among oil producers has led to international crude prices crashing by their biggest margin since the 1991 Gulf War. While the slump in crude oil prices would be seen by some as a piece of merry news, experts suggest it could spell trouble for green initiatives.
In the short term, this collapse in global oil prices can affect the transition to green energy, discourage the use of public transport and impact the market of electronic vehicles.
The plunging crude price could prompt more people to choose cars and planes over public mode of transport.
