Energy Industry Post-pandemic: New directions?
Power & Renewables
Upstream Oil & Gas
While nearly all segments of the economy have been negatively impacted by the pandemic, the oil and gas industry has been especially hard hit. On the other hand, we have also learned valuable lessons that may be helpful in addressing other challenges. The past year has also seen strong momentum on climate ambitions with many countries and corporations announcing net-zero targets. The pandemic has created enthusiasm for “building back better” as we recover from this crisis. The EU has approved a $500 billion-plus green stimulus spending package and the Biden administration also has plans to use infrastructure investment for both economic stimulus and climate policy. How sharply will the demand for fossil fuels rebound? How green will the recovery be? What is the medium-term outlook for energy demand and emissions growth? How will the oil and gas industry change?