The coronavirus that has killed more than 2,500 people since the outbreak started in December last year has also slashed China’s CO2 emissions by as much as a quarter, according to Carbon Brief reporting, noting that the epidemic led to a slump in energy demand and, as a consequence, electricity generation. This slump in energy demand wiped out as much as 100 million tons of carbon dioxide compared with the same time last year, the Carbon Brief calculated. This represented 6 percent of global CO2 emissions. The news is good for the environment but not so good for the oil industry. According to the Carbon Brief analysis, refiners in Shandong—China’s oil teapot country—have lowered their processing rates to the lowest since 2015, when the oil price crisis raged. Earlier reports said Chinese refineries are operating at the lowest run rates in six years. At the same time, some private […]