A report from the Boston Consultancy Group (BCG) has warned that the world may have already passed peak fossil fuel demand permanently, with the Covid-19 pandemic slashing the need for fossil fuels to levels from which they could never recover.
The report, ‘Have we passed peak demand for fossil fuels?’, modelled the impacts of the Covid-19 pandemic on the global power industry. In all models, global GDP is expected to fall by 3%-6% by the end of 2020, setting up a challenging 2021 regardless of the rate of recovery.
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Read more about the report here.
