Document Type

Student Research Paper


Spring 2022

Academic Department


Faculty Advisor(s)

Dr. Hongson Neuhauser


COVID has affected all of us in many ways. For many, quality of life has changed since the spring of 2020 due to the significant shifts in one of the most crucial resources in today’s society, i.e. the energy. According to the U.S. Energy Information Association, United States’ energy production exceeded consumption in 2019 for the first time since 1957. One year later, residential demand increased by about 20% (Marohl, 2020).

Since the energy sector is extremely broad, this study intends to focus on a subset of the major shifts during the pandemic for specific industries of the sector. Specifically, we study four industries: natural gas, integrated oil, coal, and alternative power generation. A list of the top ten companies in each industry, both public and private based on revenues, is compiled using data from the FactSet and Bloomberg terminal. Additionally, the performance measures of each company include market prices, return on assets (ROA), and the return on equity (ROE) of the company over the past five years. Important news connected to firm-specific changes, energydemand shifts, and ongoing-war conflicts provides insight towards the future of the Energy Sector internationally.

The change in demand for energy strongly depends on each country. Consequently, this study seeks to include U.K. market information to expand beyond the U.S. market changes within the past five years. This study will offer key insights and implications on how pandemics would impact countries’ economies; most importantly how to prepare for the future.

In the meantime, we recognize that Covid is an extremely complex and expansive factor to the world economy, and its impact does not account for all shifts witnessed over the past five years.


Honors Senior Thesis; Honors in the Discipline

Included in

Business Commons