When the pandemic shut down the global economy in March of 2020, demand for oil and gas collapsed. It raised questions about whether we’d hit peak demand for petroleum.
But things look very different at the end of 2021. Oil and gas prices are now at multi-year highs.
And as world leaders gathered for climate talks in Scotland to discuss lowering fossil fuel use, there were calls to increase oil production to stabilize prices — including from President Joe Biden.
This week: why oil is complicating global climate goals and threatening the pandemic recovery.
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