The International Energy Agency predicts that global energy investment will decline by 20%, or the equivalent of $ 400 billion in 2020, to register the largest decrease due to the outbreak of the Corona virus. >
According to Reuters, the agency stated that this could have serious implications for energy security and a shift towards clean energy as the global economy recovers from the pandemic.
The governments are easing the restrictions they have imposed to limit the spread of the virus after a near complete halt to the global economy after nearly three billion people remain in their homes as part of the disease control measures. >
The agency said that the global energy investments at the beginning of this year were heading towards the increase of two percent in the current year, the highest rate of growth in six years.
The total investment in the energy sector was about $ 1.8 trillion in 2019.
Fatih Birol, CEO of the International Energy Agency, said that the historic decline in global energy investments is deeply disturbing for several reasons ... It means the loss of jobs and economic opportunities today as well as the loss of supplies The energy we might need tomorrow as soon as the economy recovers.
He added that this may harm the shift towards cleaner energies.
The Energy Agency reported that government and sector revenues are declining by more than $ 1 trillion in 2020 due to declining energy demand and lower prices.
