This quick reversal happened despite claims that telecommuting would "Change everything," especially old-fashioned commuting and, thus, oil demand.
At a global level, the pandemic didn't change the fact that oil powers 97 percent of transportation.
Thus the oil used by planes, trains, and automobiles serves as the fuel gauge for the economy.
The March lockdowns, which kept so many people and goods from moving anywhere, crushed global oil demand by 30 percent.
There is one thing the pandemic will change and that's the trend to cram employees closer together in open-plan offices, and simultaneously reduce air-exchanges in buildings to make them more energy-efficient.
More space between employees and more air will boost electricity demand in the summer and heat in the winter.
For energy accountants the implications are obvious; it takes three to four times more energy to produce a dollar of industrial GDP than a dollar of services-related activity.
https://www.city-journal.org/covid-19-will-intensify-dominance-of-oil
At a global level, the pandemic didn't change the fact that oil powers 97 percent of transportation.
Thus the oil used by planes, trains, and automobiles serves as the fuel gauge for the economy.
The March lockdowns, which kept so many people and goods from moving anywhere, crushed global oil demand by 30 percent.
There is one thing the pandemic will change and that's the trend to cram employees closer together in open-plan offices, and simultaneously reduce air-exchanges in buildings to make them more energy-efficient.
More space between employees and more air will boost electricity demand in the summer and heat in the winter.
For energy accountants the implications are obvious; it takes three to four times more energy to produce a dollar of industrial GDP than a dollar of services-related activity.
https://www.city-journal.org/covid-19-will-intensify-dominance-of-oil
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