Analysis of the MENA region countries and their approach to alternatives to non-renewable energy sources based on the different economic and social backgrounds

Blagojevic Tijana (2020) Analysis of the MENA region countries and their approach to alternatives to non-renewable energy sources based on the different economic and social backgrounds. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

Every country in the 21st century is dependent on fossil fuels for energy production. Unfortunately, fossil fuels are non-renewable, and their use has bad consequences on the ecosystem. Humans are unable to recreate them, making their quantity limited and not a permanent solution for energy production. They are the cause of greenhouse gases that destroy the climate and have a bad effect on human health thus creating large public costs for the government in order to deal with these issues. An alternative would be a transfer to renewable energy like wind, sun, water, and others. Even though they have their limitations in availability, they are renewable and have no negative externalities. Various types allow countries to have energy portfolios that cover energy production depending on the resource available at the time. However, it is yet to optimize the storage and transfer solutions for the renewable energy.             The introduction of the renewable sector has a positive impact on the economy. Development requires a high level of investment capital which brings money into the country and influences GDP. The negative externalities of fossil fuels are decreased and the government spending on them can be redirected into development. It requires more labor than the fossil industry increasing the employment numbers. Countries that used to import energy can become self-sufficient by investing in a renewable portfolio.  The unlimited quantity of the sources leads to lower more stable energy prices. MENA region is known for their involvement in the fossil fuel industry meaning that transfer to renewables will lead to large adjustments in their economies. The five chosen countries from the region are Morocco, Saudi Arabia, United Arab Emirates, Iraq, and Israel. All of them have very different levels of social and political stability, governance, goals, policies, resources, and renewables potential.              Morocco is one of the least developed countries out of the chosen five. They have political and social stability but issues with low HDI. Still, it has the highest renewables consumption out of the chosen countries due to their early introduction of renewables in energy production. This allowed them to become more independent from the energy imports. On the other hand, Saudi Arabia is a country with high HDI and GDP yet dependent on fossil fuels due to its large reserves. They have the lowest levels of renewable energy consumption due to the late development of the sector and the issues with investors after the cancellation of many projects. Similar economy has the United Arab Emirates, which started decreasing their dependence on fossils sooner and are already having large development in renewables. Their goals go as far as decreasing the carbon footprint with clean energy long term sustainability. Completely different than others, Iraq is a post-war country that cannot prioritize the development of renewables until the country is reconstructed and the living standard is improved. They used to have a very high level of renewables in the country that were damaged and neglected during the war. On the contrary, Israel invested in the development of technology and renewables for a long time and has the second-highest levels of renewables among the countries. Their high GDP And HDI is very attractive to foreign investors as well as the local entrepreneurship.             Evaluation of the countries has led to several important conclusions. For as long as the country has social and political stability, irrelevant to the level of GDP of HDI, it is possible to attract investors and develop the renewables sector. However, lower levels mean that it would take them much longer to achieve what rich countries can in a short amount of time due to their lower dependence on investors. Transfer to renewables can have a cushion effect on the economy that used to depend on fossil fuels. These results were based on a small sample and a small range of data. To be generalized, the sample must be increased and looked at for a longer period of time.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Pénzügy Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Pénzügy és Számvitel

Konzulens(ek)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	analysis, case studies, economic development, megújuló erőforrások, social stability
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2021. Már. 01. 13:38
Utolsó módosítás:	2021. Már. 01. 13:38

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