It’s been quite a while since oil has been this cheap. It isn’t having the dramatic effect people have expected–people are still drilling, in some places gas at the pump is still pretty high, people haven’t doubled their driving.
And people are still investing in renewable energy. This is actually important, as for those of us who hope that renewables can help lower emissions, there is a perennial worry that short term events can slow down innovation. Fossil fuels have a lot of history behind them and a lot of very real advantages to overcome.
If we want renewables to comprise about 30% of electricity generation worldwide, which is a sane total to shoot for (especially if we can get another 30% from nuclear power) then what we need to see is steady investment in plant, installation and research.
We seem to be getting it now.
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Utopia, you are standing in it! 
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