Covid-19 has put the world on lockdown and markets on hold. The transport sector has been affected in multiple ways.
U.S. power plants rarely burn oil. Coal and natural gas dominate the electric grid, with oil-fired units reserved purely for backup purposes. Until recently, conventional wisdom suggested the U.S. power sector would never consume meaningful quantities of oil. Coal and natural gas were simply cheaper.
Peak-hour morning traffic in Beijing has surged as commuters shun public transport in favor of their cars amid continued concerns over the spread of coronavirus.
Low-carbon investments by oil majors have slowed amid the oil price shock, with clean energy deals closed in 1Q 2020 down 82% year-on-year.
Of Germany’s five major polluting sectors, transport is the only whose emissions increased over 1990-2017. But the sector’s footprint is set to plummet as Europe’s largest vehicle market electrifies.
Companies hunting for carbon offsets at bargain prices should look at their age.
Indonesia’s desire to move up the value chain and leverage its nickel wealth into becoming an EV and battery manufacturing hub is supported by the fact that it may have the lowest manufacturing costs in Asia.
Sentiment in the oil market has started to improve. Several European countries and U.S. states plan to restart their economies in phases, many as early as this month.
Oil sector digitalization is set to continue even as oil prices fall, according to BloombergNEF. Technology to manage remote operations is particularly popular right now.
Our research shows that the oil and gas sector spent $12.5 billion on enterprise software in 2018 with companies such as SAP, Microsoft and Oracle.
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