Abstract
An algorithm of dynamic programming in Montecarlo simulation is devel-oped to analyze the international oil market towards the year 2050. The leading oil exporters are considered, and it is found that the positive relationship between economic growth and oil production will go decreasing. The model suggests that the combination of renewable energies, oil, natural gas, and others will be the variable that will influence economic growth, where oil will no longer be the main actor.
Original language | English |
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Title of host publication | Data Analytics Applications in Emerging Markets |
Publisher | Springer Nature |
Pages | 131-144 |
Number of pages | 14 |
ISBN (Electronic) | 9789811946950 |
ISBN (Print) | 9789811946943 |
DOIs | |
State | Published - 1 Jan 2022 |
Keywords
- Bellman’s equation
- Economic growth
- MonteCarlo
- Oil demand
- Renewable energy