Pandemic Triggers Record $400 Billion Drop In Energy Investment

The COVID-19 pandemic will result in the biggest annual drop in energy investments on record—nearly US$400 billion, the International Energy Agency (IEA) said in its new World Energy Investment 2020 report on Wednesday.   Before the coronavirus-driven crisis, the IEA had expected global energy investment to increase this year by 2 percent to what would have been the biggest yearly rise in investment in six years. However, the pandemic and the economic downturn resulting from it will lead to a 20-percent plunge in investments in the energy…