Abu Dhabi (AFP) - Falling oil prices could have a negative impact on global efforts to develop renewable energy sources, experts warned Saturday at a conference in Abu Dhabi.
Oil prices have fallen by almost 60 percent since June, crashing on worries over global oversupply and weak demand in a faltering world economy.
Participants at the International Renewable Energy Agency (IRENA) conference that opened Saturday in the oil-rich United Arab Emirates (UAE) said the trend could spell doom for plans to shift to clean energy.
The fall in oil prices could be a "game changer", Italy's Deputy Minister for Economic Development Claudio Vincenti told the two-day meeting.
Oil price rises in the past encouraged clean energy investments, said Vincenti, adding that a long-term fall in prices could shift the balance among various energy sources. He did not elaborate.
Salem al-Hajraf, representing oil-rich Kuwait at the conference, agreed that falling oil prices posed a "major challenge" this year as was the case two decades ago.