Business Standard

Energy crisis shows gasoline demand declining, renewables on the rise

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

sri lanka crisis
Premium

David Fickling | Bloomberg
To hear some of the commentary, you’d think that the past 12 months had brought the world’s transition away from fossil fuels juddering to a halt. With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever. 
 
Plans to shift to clean energy are “a chain of sandcastles that waves of reality have washed away,” Amin Nasser, chief executive officer of Saudi Arabian Oil Co., said in a speech in Switzerland last week. We’ve been watching “the revenge of the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 26 2022 | 7:40 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com