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Covid-19 crisis will wipe out demand for fossil fuels, says IEA

  • 30-04-2020 8:40am
    #1
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,152 CMod ✭✭✭✭


    Renewable electricity may be only source to withstand biggest shock in 70 years
    Renewable electricity will be the only source resilient to the biggest global energy shock in 70 years triggered by the coronavirus pandemic, according to the world’s energy watchdog.

    The International Energy Agency said the outbreak of Covid-19 would wipe out demand for fossil fuels by prompting a collapse in energy demand seven times greater than the slump caused by the global financial crisis.
    https://www.theguardian.com/business/2020/apr/30/covid-19-crisis-demand-fossil-fuels-iea-renewable-electricity


Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I think any dip will be short term only, if govt's don't take this opportunity to change how their cities move.

    If the status quo is maintained, then its only a matter of time until its all back to normal


  • #3
    Harry Palmr
    Closed Accounts Posts: 40,061 ✭✭✭✭Harry Palmr


    Not sure about a big bang moment but this will in concert with wider trends drop carbon from the first tier of power supply to the second.

    If I were a Warren Buffet type I'd certainly be divesting myself of stocks in carbon exploration linked companies and buying carbon sequestration in various forms.


  • #4
    malinheader
    Registered Users, Registered Users 2 Posts: 5,132 ✭✭✭malinheader


    I hope they let businesses get back up running into a bit of normality before they start imposing measures which I know probably need to and will happen are inforced .
    But it's going to be tough enough for alot of businesses to get back to where they were before this


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