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Oil slump not necessarily bad news for climate

2015-02-14 14:03:00| Climate Ark Climate Change & Global Warming Newsfeed

Agence France-Presse: Since the 1970s, the renewable energy sector has usually trembled each time oil goes through the "bust" phase of the commodity cycle. When crude was dear, users became interested in wind, solar and hydro. But when oil became cheap, they gorged on it once more, turning their backs on novel, cleaner but costlier alternatives. Today, oil is again in the doldrums. It plunged by 60 percent in price between June 2014 and January, falling to just over $40 a barrel, before pulling back to around...

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