Understanding Oil Cycle Dynamics to Design the Future Economy

García, Luis; Illig, Aude; Schindler, Ian

doi:10.1007/s41247-020-00081-4

Cited by 7 publications

(4 citation statements)

References 38 publications

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“…Halicioglu [40] and Magazzino [41] highlight that the real GDP drives energy consumption and CO 2 emissions, findings validated by recent studies [42][43][44][45]. Climate change and environmental degradation impact economic sustainability [3,[46][47][48], generating potential negative implications of climate change on economic activity and affecting the population welfare. Managing climate risks at the EU level necessitates proactive management based on identifying relationships between economic and green performances, GHG emissions reduction, and forest resource coverage-the most significant CO 2 catcher [49].…”

Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 74%

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An Empirical Analysis of Relationships between Forest Resources and Economic and Green Performances in the European Union

Vărzaru,

Bocean

2023

Forests

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The growing concern for environmental sustainability drives efforts toward balancing economic growth with responsible resource management. Forests represent invaluable green assets central to combating climate change and supporting biodiversity. This research investigates the intricate interaction between forest resources and economic and green performances within the European Union (EU). The European Union, as a conglomerate of diverse member states with varying forest endowments and economic contexts, provides a rich framework for examining these connections. This paper applies structural equation modeling (SEM) and cluster analysis to a dataset collected from Eurostat. This study’s empirical findings underscore the multidimensional relationship between forest resources and green and economic performances. The findings reveal significant positive relationships between economic and green performances and forest resources and a negative relationship between greenhouse gas (GHG) emissions and forest resources, implying a decline in GHG while green and economic performances increase. Cluster analysis identifies distinct groups of EU countries exhibiting similar profiles concerning forest management and economic and green performances. The cluster analysis results highlight the necessity for tailored strategies and policy benchmarking that acknowledge the heterogeneity of EU member states and their unique combinations of forest resources, economic structures, and ecological commitments.

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Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 74%

“…The repercussions of climate change and environmental degradation (including GHG growth) extend to economic sustainability [3,[46][47][48], with potential adverse effects on economic activity and overall population welfare.…”

Section: Forestrymentioning

confidence: 99%

An Empirical Analysis of Relationships between Forest Resources and Economic and Green Performances in the European Union

Vărzaru,

Bocean

2023

Forests

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“…Demand side shocks, which are most important, occur due to increases in population growth and household income, dollar depreciation, and an increase in biofuel production such as ethanol (Wang et al 2018 ; Lima et al 2019 ). Garcia et al ( 2020 ) showed that the COVID-19 pandemic negatively affected international crude oil demand and reduced prices. The rise in biofuel production is responsible for the rise in the prices of agricultural commodities (Paris 2018 ).…”

Section: Literature Reviewmentioning

confidence: 99%

Global Energy Price Volatility and Agricultural Commodity Prices in Malaysia

Solaymani

2022

Biophys Econ Sust

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Few studies have differentiated oil demand shocks from oil supply shocks in the literature that has investigated the impacts of these issues on the prices of agricultural products. This study attempts to investigate this problem by employing a structural vector autoregression (SVAR) technique on Malaysian data from January 1993 to December 2019. We found that the reactions of agricultural commodity prices to the changes in global oil prices largely depend on whether they result from oil demand shocks or oil supply shocks. Global oil demand shocks before the food price crisis (2006–2008) can explain a large share of the changes in prices of agricultural products, while after that period, their capacity to explain these changes becomes much weaker. After the food crisis period, the contribution of the oil supply shock to changes in the prices of agricultural products is higher than that of the oil demand shock. We can conclude that the role of oil supply in the economy in explaining changes in the prices of agricultural commodities is stronger after the food price crisis. This is because Malaysia’s economy, as a net oil exporter, benefits from higher oil prices resulting in higher demand for agricultural products and, consequently, higher prices for agricultural commodities.

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“…It should be noted that Sect. Resources Produced Jointly with Fossil Resources only studies two fossil fuel supply scenarios and that many other trajectories are possible, for example if affordability of fossil fuels change (Garcia et al 2020).…”

Section: Uncertainties With Estimating Future Stocks Potential Flows and Recovered Flowsmentioning

confidence: 99%

Reduced Use of Fossil Fuels can Reduce Supply of Critical Resources

Månberger

2021

Biophys Econ Sust

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Previous research has identified that climate change mitigation policies could increase demand for resources perceived as critical, because these are used in many renewable energy technologies. This study assesses how reducing the extraction and use of fossil fuels could affect the supply of (i) elements jointly produced with fossil fuels and (ii) elements jointly produced with a host that is currently mainly used in fossil fuel supply chains. Several critical resources are identified for which supply potential from current sources is likely to decline. Some of these, e.g. germanium and vanadium, have uses in low-carbon energy systems. Renewable energy transitions can thus simultaneously increase demand and reduce supply of critical elements. The problem is greatest for technology groups in which by-products are more difficult to recycle than the host. Photovoltaic cell technology stands out as one such group. Phasing out fossil fuels has the potential to reduce both the supply potential (i.e. primary flow) and recoverable resources (i.e. stock) of materials involved in such technology groups. Further studies could examine possibilities to increase recovery rates, extract jointly produced resources independently of hosts and how the geographical distribution of by-product supply sources might change if fossil fuel extraction is scaled back.

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Understanding Oil Cycle Dynamics to Design the Future Economy

Cited by 7 publications

References 38 publications

An Empirical Analysis of Relationships between Forest Resources and Economic and Green Performances in the European Union

An Empirical Analysis of Relationships between Forest Resources and Economic and Green Performances in the European Union

Global Energy Price Volatility and Agricultural Commodity Prices in Malaysia

Reduced Use of Fossil Fuels can Reduce Supply of Critical Resources

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