Low oil prices will increase the number of renewable energy sources will become more difficult

Many people believe that renewable energy will eventually replace fossil fuels. For those who hold this view, low oil prices are a problem because low oil prices can hinder the transition to renewable energy.

Despite all the various statements about renewable energy, they have not really replaced oil. Biofuels are closest to us, but they are just oil extenders. We add ethanol from corn to the gasoline to increase the amount of gasoline. However, oil is still needed to make the farm equipment work, so that corn can be grown, and the corn can be transported to an ethanol processing plant. If there is no oil, the biofuel production system will experience a sudden brake.

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