Has there been progress with fossil fuel consumption?
The COVID crisis has given rise to a desire to speed up the energy transition. But how is it really going? We look at recent trends in the consumption of fossil fuels (oil, natural gas, coal). Given growth and the prices of these energy sources , are there signs of an effort to reduce their use? We see that there has been no decline in global fossil fuel consumption in the recent period relative to its historical trend (which depends on GDP, relative energy prices and a trend improvement in energy efficiency). There is no sign of the energy transition having accelerated in the recent period.