Low fossil fuel prices hindering climate change fight, says IMF
by Larry Elliott from on (#WGYW)
International Monetary Fund suggests prolonged period of low oil, coal and gas prices could discourage further adoption of cleaner energy sources
The International Monetary Fund has issued a warning before a meeting of the Opec oil cartel that permanently low fossil fuels are choking off investment in renewable sources of energy and hindering the fight against climate change.
Oil prices rallied slightly amid reports - later denied - that Saudi Arabia plans to announce a 1m barrels a day production cut at the talks in Vienna on Friday. The price of Brent crude was up more than 2% at just under $43.50 in early trading on Thursday.
Continue reading...