Cheap Oil, Climate Change Mitigation and India

The oil crash of 2014 is expected to have a moderate impact on the global economy with oil importers seeing a boost in growth. The long-term impacts on climate change are difficult to predict but it is very likely that these might even be beneficial to the process of decarbonising the global energy economy. Most countries, including India, could use the opportunity to reduce fossil fuel subsidies and invest in renewable energy instead.