Billions of people spent the last few months in a lockdown of some form or another with travel bans or severe restrictions in place. Some warn that this will be our new normal. And this new normal could accelerate a shift away from hydrocarbons as the single most popular source of energy. “COVID-19 lockdown experience of reduced commuting and business travel, alongside better air quality and family time, may deliver lasting changes in energy consumption,” Moody’s said in a recent report . These changes, the rating agency went on, will combine with slow and labored economic recovery to depress energy demand, both in the business world and among households. As demand for oil falls, Moody’s said, slower economic growth, increased use of alternative fuels for transportation, electric vehicles, and better fuel efficiency will add their own weight on oil demand. And as new behavioral patterns become permanent, this weight […]