United States energy consumption hits 30-year low during pandemic shutdowns: EIA



by   |  VIEW 625

United States energy consumption hits 30-year low during pandemic shutdowns: EIA

Earlier on Friday, the US Energy Information said in a statement that the US energy consumption had pummelled to its lowest level in more than thirty years during the pandemic-propelled forced business shutdowns, while the steep drop in energy consumption was almost entirely goaded by a dour demand for coal which usually is burned in the refineries for preparing petroleum and jet fuels.

Nonetheless, amid a sharp downturn in global air traffic this year due to the pandemic-led restrictions in international travels across the world alongside a multi-year low gas and oil prices which in effect had prompted a number of US shale operators to seek for bankruptcy protections in context of a lack in potential creditors who remained fretted that they would never be repaid as an economic recovery seems to be a far cry, oil consumptions across the United States had been met with a sharp downturn.

Besides, forced restriction on public movement had also curbed out the number of people attending the traditional summer county ride, eventually hitting the US energy consumption with a heavy whiplash this spring.

US energy consumption trends gradually rebound as economy reopens

Meanwhile, the US Energy Information Administration had also added at its Friday’s statement that the stabbing figures in US fossil fuel consumptions had been turning around, however, a steady spike in pandemic cases across the densely populated US cities in the South and East alongside an almost three-month long lockdown had been taking a heavier toll in the US energy industry with a number of fossil-fuel companies filing for bankruptcy protection and predicting a sweeping slump in annual greenhouse gas emission, a critical indicator to the usage of coal used in the petroleum refineries.

Apart from that, according to the statement from the US Energy Information Administration, entire US energy consumption was lowered by 14 per cent in April compared to the same time a year earlier, the steepest monthly decline in energy usage since 1973 and the worst monthly energy consumption figure since 1989, while the previous largest drop in energy usage was recorded in December 2001, mostly prompted by the 9/11 attack on the US soil alongside a warm winter indenting electricity demands.