Open AccessDo Oil-Producing Countries Have Normal Oil Overconsumption? An Investigation of Economic Growth and Energy Subsidies
Author(s) -
Seyed Reza Mirnezami
Publication year - 2015
Publication title -
aims energy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.294
H-Index - 9
eISSN - 2333-8334
pISSN - 2333-8326
DOI - 10.3934/energy.2015.3.267
Subject(s) - overconsumption , oil consumption , subsidy , economics , consumption (sociology) , greenhouse gas , natural resource economics , oil price , energy consumption , fossil fuel , agricultural economics , production (economics) , monetary economics , market economy , macroeconomics , waste management , ecology , social science , sociology , biology , automotive engineering , engineering
The data shows that oil-producing countries have low oil retail prices and low economic growth compared with other countries. Considering that oil-producing countries experience high oil consumption and low economic growth, it is possible to argue that economic growth is not an appropriate justification for oil consumption and that the main cause for high oil consumption is the low retail price. In addition, it should be noted that the global environmental movement against increasing greenhouse gas emissions—for example, the Kyoto 1998 agreement—seems to have had no effect on oil consumption in oil-producing countries