Drop in oil prices and the threat of bio-fuel electric car industry

According to Irena’s data, in 2013 renewable energy accounted for 22% of the world’s total generating capacity, accounting for 19% of the world’s total final energy consumption. Among them, in addition to the latter, including power generation, heating and transportation also includes aspects of energy consumption.

Since June 2014, the international crude oil prices have tumbled nearly six. 13th of this month, the New York International crude oil prices fell below the psychological barrier of $ 45 a barrel, and since March 2009, the lowest settlement price to close at $ 45.89. From this point last June, the international oil prices have fallen by 57% from the peak of $ 107 a barrel.

January 16, the International Energy Agency released monthly oil market report, “unless there is a major confounding factors, crude oil prices will not rise immediately, but a lot of indications that the price trend will change.”