oil: The price of oil suffered an historic market crash last month when US oil prices turned negative for the first time, according to The Guardian. The IEA said the decline in investment is staggering in both its scale and swiftness and will impact every major sector, from fossil fuels such as oil, gas and coal to renewable sources including wind and solar power. The International Energy Agency IEA said the unprecedented investment slump follows the most severe plunge in energy demand since the second world war. In a report, the IEA said the decline in investment in areas such as clean energy technology could undermine the transition to renewable, sustainable sources of energy. If we are to achieve a lasting reduction in global emissions, then we will need to see a rapid increase in clean energy investment. The crisis has brought lower emissions but for all the wrong reasons, said Fatih Birol, the IEA's executive director.
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