Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels.
Global natural gas shortages, record gas and coal prices, a power crunch in China and a three-year high on oil prices all tell one story ¡ª demand for energy has roared back and the world still needs fossil fuels to meet most of those energy needs.
¡°The demand fall during the pandemic was entirely linked to governments¡¯ decision to restrict movements and had nothing to do with the energy transition,¡± said Cuneyt Kazokoglu, head of oil demand analysis at FGE.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.