Europe's green transport set for protection from oil price fall

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By Barbara Lewis and Nina Chestney BRUSSELS/LONDON (Reuters) - Europe's green transport sector, still in its fledgling stages, is set to receive more regulatory support as the slump in oil prices tempts drivers back to gas guzzlers. Renewable power, such as wind and solar, is an increasingly established technology, competitive with conventional fuel and no longer affected by movements in the oil market, analysts say. The alternative transport sector is comparatively tiny, and more exposed as about 90 percent of transport is fueled by conventional oil. A roughly 50 percent drop in the international oil market since June, meanwhile, lessens consumers' incentive to buy electric and hybrid vehicles. EU sales of electrically chargeable vehicles in the last quarter of 2014 fell to 24,548 from 26,607 in the final quarter of 2013, a nearly 8 percent drop, figures from the European Automobile Manufacturers' Association revealed on Wednesday.

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