Why the Texas oil crash is terrible for renewables

Climate Economy

Why the Texas oil crash is terrible for renewables

Don't celebrate plummeting oil and gas prices. The crash won't be good for renewable energy Texas oil and gas companies are experiencing their most dire crisis ever. As countries have shuttered and industries slow from COVID-19, demand for oil and gas has plunged while supply from OPEC, Russia, and the United States continues to rise. Oil usually hovers around $40-$60 a barrel, but during this pandemic, prices are struggling to stay above $20. For some, the crash of the fossil fuel energy industry is a reason to celebrate. Such celebrations…

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