Great Bloomberg article on macro energy market!
7 Reasons why cheap oil won’t stop renewables:
1. Oil is for cars, renewables are for electricity.
2. Electricity prices are still going up because of investment in transmission and the grid.
3. Solar prices are STILL going down!
4. Sales of plug-in cars are still going strong. No relationship between EV sales and gas prices since 2010.
5. Internationally, prices at the pump haven’t dropped as much as oil prices. Many countries have simply cut subsidies.
6. Oil prices won’t stay this low forever. American drillers are idling rigs faster than they have since 1991. Eventually, supply will shrink and prices will rise again.
7. Global investment in clean energy keeps going up!
Check out the full article and great graphs at the link below.