are undergoing the same transition, with a coal plant outside Nucla, Colorado closing three years earlier than planned. government is now planning to completely end coal production by 2024, a year earlier than originally planned. Coal plants are closing ahead of schedule, as major economies pledge to cut carbon at a faster rate than originally planned, starting with the dirtiest fossil fuel. and Europe are already shutting down at an increasing rate, it is clear that the job losses of the last year are not over yet. Now, with the energy transition, the oil sector is expected to contract further, around 20 percent over the next decade and by 95 percent between 20.Д«ut as coal plants in the U.S.

Some of the most stable supermajors were forced to cut jobs, with Exxon reducing its workforce by 15%, around 14,000 employees, not to mention the smaller firms that were forced into bankruptcy. But shifting from the worldвЂ™s principal energy sources also means abandoning huge infrastructures and cutting millions of jobs, unless a plan is established to repurpose energy structures and transition workers.ДЄn estimated 400,000 jobs were cut across the energy sector in 2020, with half of those in the U.S. If that is the case, then the industry desperately needs clear policies to be put in place to ensure job creation and training for the millions that stand to lose their professions.ДЇollowing the COP26 summit at the beginning of November, attended by some of the most important world leaders and environmental actors, it was widely agreed that the world must undergo an energy transition, moving away from fossil fuels to renewable alternatives. However, as the IEA and several governments push for a green energy transition, this could be the tip of the iceberg when it comes to job losses. The Covid-19 pandemic led to hundreds of thousands of job losses in the global energy sector following months of restrictions that hindered people from getting to work and led to the bankruptcy of many oil and gas firms around the world.

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