مرکز منطقه ای اطلاع رساني علوم و فناوري - THE ROLE OF THE OIL AS AN IMPORTANT ENERGY INPUT IN THE ECONOMIC DEVELOPMENT PROCESS

Abstract :

In this study, importance of the oil - which has a huge share in the world energy consumption - is evaluated with regard to economic development. This fossil resource that has crucial importance especially for the oil exporting countries is one of the oldest energy resources. While the concerns are being raised with regard to scarcity of this source nowadays, the role of oil in the World energy market is analyzed by using various graphs in order to evaluate the importance of oil for economic development. Furthermore, the possible variations in the cost of economic development are examined through evaluating the fluctuations in the prices of oil which is considered as one of the main input for economic development. When we consider the recent increases in the oil consumption of developing countries and increase in the oil prices; it is projected that the cost of economic development increases day by day and it will also increase along the forthcoming period. When we evaluate the existing situation from different perspectives, the oil is one of the essential inputs for the economic development and it is anticipated that oil will keep this situation.