This article is about a 19% drop in the last 2 months. Alternative energy methods didn’t increase in popularity/use enough in the last 2 months to cause that much of a drop. The article uses a decent amount of actual data analysis and sources and shows a pretty clear causality between the growth of supply and the stagnation of demand that led to the price drop.
Renewable energy has definitely led to an overall drop in price over the last 15 years but it wouldn’t cause a drop this drastic without a huge increase in use or improvement in technology.
It’s not insinuating that at all, in fact the article is pretty clear that this isn’t some sign of things to come, it’s pretty much only because OPEC and the US have been increasing supply of oil even though demand has been fairly stagnate or dropping. OPEC usually will slow production when prices get too low so there’s a good chance prices will start going back up again soon. The only reason this would be sustainable is if they chose to continue this level of production which they’d only do if they felt it could benefit them long term (for example if they think lower gas prices will prevent an increase in EV purchases, which is possible but not likely at this point).
Oil prices crashed 19% from their peaks—here's why (creditnews.com)
Less than two months ago, analysts were talking about $100 a barrel oil prices; that now seems like a distant reality.