TY - JOUR
T1 - When pandemics impact economies and climate change
T2 - Exploring the impacts of COVID-19 on oil and electricity demand in China
AU - Norouzi, Nima
AU - Zarazua de Rubens, Gerardo
AU - Choubanpishehzafar, Saeideh
AU - Enevoldsen, Peter
PY - 2020/10
Y1 - 2020/10
N2 - Despite all the scientific and technological developments in the past one hundred years, biologic issues such as pandemics are a constant threat to society. While one of the aspects of a pandemic is the loss of human life, the outbreak has multi-dimensional impacts across regional and global societies. In this paper, a comparative regressive and neural network model is developed to analyze the impacts of COVID-19 (coronavirus) on the electricity and petroleum demand in China. The environmental analysis shows that the epidemic severeness significantly affects the electricity and the petroleum demand, both directly and indirectly. The outputs of the model stated that the elasticity of petroleum and electricity demand toward the population of the infected people is −0.1% and −0.65%, respectively. The mentioned results show that pandemic status has a significant impact on energy demand, and also its impacts can be tracked into every corner of human society.
AB - Despite all the scientific and technological developments in the past one hundred years, biologic issues such as pandemics are a constant threat to society. While one of the aspects of a pandemic is the loss of human life, the outbreak has multi-dimensional impacts across regional and global societies. In this paper, a comparative regressive and neural network model is developed to analyze the impacts of COVID-19 (coronavirus) on the electricity and petroleum demand in China. The environmental analysis shows that the epidemic severeness significantly affects the electricity and the petroleum demand, both directly and indirectly. The outputs of the model stated that the elasticity of petroleum and electricity demand toward the population of the infected people is −0.1% and −0.65%, respectively. The mentioned results show that pandemic status has a significant impact on energy demand, and also its impacts can be tracked into every corner of human society.
KW - COVID-19
KW - Demand analysis
KW - Economic impacts
KW - Energy policy
KW - Socio-economic analysis
UR - http://www.scopus.com/inward/record.url?scp=85086669851&partnerID=8YFLogxK
U2 - 10.1016/j.erss.2020.101654
DO - 10.1016/j.erss.2020.101654
M3 - Journal article
C2 - 32839693
AN - SCOPUS:85086669851
SN - 2214-6296
VL - 68
JO - Energy Research and Social Science
JF - Energy Research and Social Science
M1 - 101654
ER -