When the world went into lockdown, the global demand for electricity dropped 20%. By the end of March, 50% of the traffic disappeared from city streets. The demand for fossil fuels evaporated. Coal fired generation has suffered its’ largest drop since World War II. A new International Energy Agency (IEA) report suggests the post COVID energy world could be far more carbon free.
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Low Oil Prices Deflate Canada’s Petrocurrency
By Roy L Hales
The Canadian dollar dropped to its lowest exchange rate in eleven years Wednesday. Dr Werner Antweiller, of UBC’s Sauder School of Business, that is because our economy is so focused on the oil sector. Consequently, low oil prices deflate Canada’s petrocurrency.
Continue reading Low Oil Prices Deflate Canada’s Petrocurrency