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The Impact of Decreasing Oil Demand on the environment |
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by Meghana Fessy | 01-05-2020 22:53
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Right now, the whole world has taken a pause. And in a world without movement, fuel becomes obsolete. However, despite a dramatic plunge in oil demand, companies are still pumping out oil. The result — oil prices went negative for the first time in history and some of the biggest oil companies are in trouble While oil demand dropped, renewable energy is actually experiencing an upswing. This year, renewable energy sources made up 21% of electricity in the U.S. for the first time in history. The New York Times reported that although some projects have been delayed due to the pandemic, wind and solar will continue to grow. This will happen even as oil, gas, and coal struggle to financially recover. Dramatic decline in oil demand lead to clearer, less polluted skiesAcross the world, pollution has significantly decreased, leading many to believe COVID-19 was an opportunity for the Earth to “heal”. Photos of pristine canals, smog-free skies, and reappearing wildlife have flooded social media as a result. Here are just some examples: The Himalayas are finally visible after decades of pollution have left them hidden. In New Delhi, India—one of the most polluted cities in the world—saw a 60% reduction in fine particulate matter. Even in the usually smog-covered city of Los Angeles, residents experienced some of the cleanest air in any major city across the globe last week. Abandoned oil wells could cause toxic gas leaksAs continual production accentuates the concern of there being too much oil to store in existing wells, we could soon see a mass abandonment of oil wells. Left unattended, these wells could lead to greenhouse gases like methane leaking out. On one hand, some believe it could be a major turnaround point in the fight against climate change and the beginning of the end for big oil. (For instance, a huge shift to renewables, oil prices stay low, and so on.) Others aren’t so bullish about the demise of big oil. After all, the fossil fuel industry may climb back just as it has in any other crisis. And in terms of the environment, some scientists believe this peak in air quality improvements will be short lived unless we continue taking serious preventive measures after the crisis. |
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11 Comments
Thanks for sharing.
Posted 05-07-2020 16:29
Thanks asmita!
Posted 08-05-2020 01:45
Hello Meghana
I hope you are doing well
Thank you so much for this report.
Keep writing
Regards
Asmita Gaire
Posted 06-05-2020 16:59
Thank you Sonika!
Posted 02-05-2020 23:21
Thank you Sudha!
Posted 02-05-2020 23:20
Thank you Meena!
Posted 02-05-2020 23:20
Thank you Asmita!
Posted 02-05-2020 23:20
Hello Maghana!
I hope you are doing great!
Oil industry is one of the major industry contributing different types of pollution and harm to earth. Closure of this can cause many positive impact on our mother earth.
Thanks for Sharing!
GREEN CHEERS!
Regards,
Sonika!
Posted 02-05-2020 23:04
Hello Meghana,
This quarentine has let our nature heal. If we could maintain this, it would be the eminent deed by mankind ever for the Earth.
Keep on writing.
Regards
Asmita
Posted 02-05-2020 21:05
Hello Meghana,
Thank you so much for sharing a wonderful report.
Keep writing and shining
Regards
Sudha
Posted 02-05-2020 13:57
Hello Meghana!!
I hope you are fine and doing great.
The sky is glowing brighter when industries and automobiles are out of work.
Keep writing and shining.
Hope to know more from you.
Warm regards,
Meena
GREEN CHEERS
Posted 02-05-2020 13:44