‘Oil price crash affects green transition’

Bloomberg

The pain felt by Big Oil from the coronavirus-led plunge in demand may derail global efforts to cut pollution, the International Energy Agency (IEA) said.
The slowdown and falling prices “undermines the ability of the oil industry to develop some of the technologies needed for clean energy transitions around the world,” said the Paris-based agency.
The industry has repeatedly called for government support for key technologies, such as hydrogen and carbon capture and storage which sucks pollution out of the air. All major European oil and gas companies now have ambitions in place to reduce their emissions in the long-term and some have dabbled in the power business, buying up utilities or invested in biofuels.