Analysis of countries’ policy change to energy crisis

Abstract

Energy efficiency improvement in global energy network and its high consumption determinants have been affecting countries’ economies and energy policies’ development status for some decades. The consequences of those determinants have been leading economies to energy crisis and shocks and in its turn that was fostering and encouraging countries’ energy policy-makers to develop better or proactive energy policies as a response to energy crisis. A few empirical studies have examined the relationship between countries’ energy diversification, oil dependency and energy polices development. This paper firstly analyzes the status of effectiveness of energy diversification and the subsequently applied policies on consumption, energy related technological innovation development, pricing regulation and conservation, and import/export sources of crude oil within 21 energy import/export countries’ sample data from 1990 to 2010 respectively. The obtained outcomes of analyses show an energy policy implication for countries requiring the preparation of a credential for the consumption and supply of energy and import sources in an age of increasing energy prices.