This article describes the relationship between COVID-19 and the use of fossil fuels. According to this source, the demand for coal is down by 8% and oil down by 5%. Because of this, the greenhouse gas emissions are reduced as well and the article predicts that they will be down by 2-7% by the end of the year. Although these numbers sound promising, the article warns that this is not enough to make a difference in the long term. The policies, currently in place, regarding the use of fossil fuels, will lead to an increase in demand of about 30-40% by the year 2040. The article goes on to say that although the oil and coal markets are taking a hit now, they will likely rebound with the economy in the next few years. This could lead to the peak being not as large as previously expected, but still much larger than the demand today. The fossil fuel market has stumbled before in correlation to the economy, for instance, during the fall of the Soviet Union or during the market crisis of 2008, but it has always bounced back with the economy. The main takeaway from this article is that the effect on the climate will be temporary, and the only real way to make change is through policy.
