Аннотация: The article analyzes the causes and consequences of lower oil prices in the context of the global economic downturn due to the spread of the virus epidemic and an increase in excess supply in the oil market. The author reveals the need for the transition of all countries of the world to new sources of renewable energy, including hydrogen, in order to preserve the environment and resume sustainable development. The analysis points to the importance of new energy-generating technologies and new opportunities for innovations, which let us abandon the use of oil and avoid new energy shock and closer cooperation among states to proctect the evironment.