Covid-19: Fossil fuel demand may have peaked in 2019 – ZAWYA

Covid-19: Fossil fuel demand may have peaked in 2019 – ZAWYA

Covid-19: Fossil fuel demand may have peaked in 2019 | ZAWYA MENA Edition HomeMarketsCommoditiesArticleCovid-19: Fossil fuel demand may have peaked in 2019 BCG's article titled "Have We Passed Peak Demand for Fossil Fuels?“ explores energy scenarios through 2030    As the short-term economic fallout of the global COVID-19 pandemic becomes increasingly visible, according to recent research by BCG, which suggests that the crisis may have a significant long-term impact on global energy markets. BCG's article titled "Have We Passed Peak Demand for Fossil Fuels?“ explores energy scenarios through 2030.BCG's analysis of the future energy demand and energy mix for three economic scenarios, representing V-, U-, and L-shaped recoveries, points to a high likelihood that the current crisis will significantly slow world fossil fuel demand over the coming decade. In a scenario combining slower economic recovery with moderate acceleration of the transition from fossil fuels to renewables, as suggested by the "green recovery“ measures currently introduced in many countries, demand would never recover beyond 2019 levels.Fossil fuel demand may have permanently peaked in 2019 if the global economy does not recover rapidly from the coronavirus pandemic, accelerating the arrival of peak fossil fuel demand by more than a decade, said the