This study presents a novel comparative analysis on global energy scenarios in terms of main characteristics, scenario building frameworks and time frames. The study analyzes each energy scenario's outputs and outlooks by 2040 such as gross domestic product growth, technology developments, primary energy demand by sector, energy supply by fuel, energy intensity and carbon emissions. Based on the foresight semiquantitative method, global energy driving forces which play significant roles in reshaping the world energy future by 2040 have been identified. The study applies mathematical principles to quantify the rational judgments of an expert panel in social, technological, economic, environmental and political framework through cross-impact analysis. Among the 10 global energy driving forces by 2040, population growth rate and climate change are identified as social and environmental driving forces, respectively. Investment in infrastructures, financial shocks, consumer behavior and energy efficiency are marked as economic driving forces, while global governance and geopolitical relationships are identified as the global energy market's political driving force. And finally, technological development in renewable energies as well as in oil and gas upstream sector is recognized as a technological driving force.
This article characterizes a dynamic crude oil trade network of Eastern Europe and Eurasia using the network connectedness measure of Diebold and Yilmaz (2014, 2015) and asymmetric reaction of crude oil bilateral trade flow in response to the positive and negative changes of its key determinants using the nonlinear panel ARDL model. Results indicate the existence of large and time-varying spillovers with a considerable explanatory power among the crude oil trade flow volatility of Iran, Russia, US and Saudi Arabia in Eastern Europe and Eurasia crude oil trade network. The findings also show that crude oil trade flow of Eastern Europe and Eurasia experiences net volatility transmission to Iran, Russia and US respectively, whereas it is a net volatility receiver from Saudi Arabia. Also based on gravity models, the analysis confirms the existence of impact, reaction and adjustment asymmetry through different magnitude among network participants.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.