Pandemic ushers early decline for fossil fuel era, BP says

Irish Times | Sep 14, 2020 at 11:58 AM
  • UK energy major BP has warned of a peak in oil demand within the next few years, signalling that the coronavirus pandemic is ushering in an earlier than anticipated decline for the fossil fuel era.
  • In two other scenarios that model more aggressive policies to tackle climate change, oil demand never fully recovers, implying 2019 levels of 100 million barrels a day will be the peak for consumption.
  • Pressure from investors, environmentalists and the public on energy companies to tackle climate change is rising, yet demand for fossil fuels is expected to remain robust for decades.