Covid increases global oil demand plummeting. Governments around the world ignore oil to support alternative energy. Analysts believe electric cars are the catalysts for the global oil industry.
- BP, the world's largest oil company, predicts world oil will never return to its original value. Like Shell, the company has turned to renewable energy, which has cut oil production costs in half.
- Measures for each government to fully support clean energy Oil loses the right to grow Europe to ban gasoline-powered cars
- Replaced electric cars Motorists ignore gasoline-powered cars The Chinese government drives sales of clean energy vehicles
The global oil industry has faced bad news many times this year, following a steady decline in oil prices. In addition, COVID-19 Also caused the interruption of transportation around the world Planes must be parked on a runway, with only a few flights, and the popularity of electric cars continues to grow. In addition, there are also many governments promoting measures to support the use of renewable energy to support the green trend. Many see the subsequent drop in demand as the last battle for the oil industry. Which does not affect only investors But also the well-being and economic conditions of the country that is dependent on oil income Faced with the debilitating economic problems
'Shell' cuts oil production costs 'BP' expects oil to plummet
'Shell', a large multinational energy company Prepare to adjust the structure to reduce the expenditure of oil and natural gas production. This represents the largest share of the company down 40 percent to survive the COVID-19 crisis. And is a modification to focus on renewable energy It is expected that there will be a big competition in the production of clean energy, while global trends are aimed at green energy.
While the world's largest oil company BP has stated that the global industry has reached its peak or 'peak' and may not recover after the COVID-19 epidemic, it must Faced with declining demand or demand, BP's annual report said oil could be replaced by clean energy such as wind energy. Solar energy And hydrogen energy The renewable energy has grown rapidly over the past year.
BP's head of economics, Spencer Dale, said that in the future, power on the planet will turn into green energy. Due to the spread of COVID-19 And a movement to deter climate change has pushed oil to its peak. Consistent with the warnings of economists agree that COVID-19 Causing the industry to reach the end faster
Previously, the company announced the cessation of seeking oil fields. And spend a lot of money on the development of clean energy Like its rival Shell, BP's US allies are under pressure from investors and governments to cut their carbon footprint in the future to tackle climate change.
Many countries drive green energy
British government Announced the preparation of financial support in Green bank To support the movement to stop global warming after a number of calls The UK is also trying to step into a carbon-free economy. Within the next 30 years
The Government of the Netherlands Have a policy to use vehicles that use renewable energy. Along with the aim of all cars to have zero carbon dioxide emissions by 2035 by encouraging people to use biofuels extracted from plants, electric cars and alternative energy. Replace the fuel that increases the amount of greenhouse gases.
Switching to renewable energy is not only beneficial to protecting the environment, it also helps the Netherlands from becoming dependent on oil and gas producing countries. It also reduces the impact if fossil fuel prices rise.
Electric cars, the main parameters, people ignore gasoline
"The growth of transport Was swallowed up by electrical energy "
Here are the words of Ben Ham chairman Harry M. Berry - Mate client. An environmental independent organization by Mr. Benham believes that oil and gas companies There is no way to beat the electric power in the competition field. Mr Benham's interview coincides with experts who think that after the COVID-19 epidemic has passed, oil prices could rise, prompting people to turn to electric vehicles.
Although the car manufacturers will compete with many models of electric cars But the big problem is the electric vehicle charging station. That are not as prevalent as gas stations As a result, many electric car owners have to keep an eye on the symbol for charging. This is a factor that makes people who decide to buy electric cars are reluctant to spend money on electric cars or not.
But the minor problems of electric cars may not make them disadvantageous to oil cars much. When the governments of each country prepare measures to fully support electric cars The French government is prepared to drive sales of low-emission cars. China section The country with the size of the largest automotive industry in the world Has issued measures to support sales of hydro-yen powered cars and prepare to help the electric vehicle industry after the epidemic of COVID-19. While the Democrats US Liberal Party Prepare to find a way to increase demand for clean energy vehicles in the country
But the factor that caused the end of petrol cars to arrive earlier than expected was inevitable that European countries prepared to ban sales of gasoline-powered cars. Combined with the trend of continuous electric vehicle development This makes the future of the oil industry that once had enormous value not as bright as it used to be.
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