Electricity demand is back to pre-pandemic levels, but fossil fuels fail to recover as renewables show consistent growth.

As a result, CO2 emissions from the power sector in H1-2021 were 12% lower than the same period before the pandemic. In H1-2021, electricity demand rose 6% vs. H1-2020 and almost fully recovered (-0.6%) to pre-pandemic (H1-2019) levels. Electricity generation from fossil fuels has not recovered and was 10% lower in H1-2021 than before the pandemic (H1-2019), despite an uptick in H1-2020.

Emissions Down as Europe’s Electricity Comes Back Cleaner | Devamı>>>

Oil and gas markets are ensnared by oversupply and falling prices, not to mention a global pandemic. It illustrates the need to be more responsive to changes in the energy climate. And the good news is that the signs are pointing to more investment in renewables, specifically offshore wind power.

It’s a business decision that is also addressing climate change. A new report by Wood MacKenzie says that $211 billion will get invested in offshore wind over the next five years — something that is well-suited for oil and gas companies.

Oil And Gas Companies See Opportunity In Offshore Wind Energy | Devamı>>>