Political, Social and Economic Effects of Oil Price Fluctuations and the Intensity of Trade Development on Renewaof oil price fluctuations and the intensity of commercial development on the consumption of renewable energies in oil exporting countries

Today, the addition of renewable energy to the global energy mix will not only reduce the pressures from the global demand for fossil fuels, but will also complement the global non-renewable energy reserves in significantly improving the overall reliability of energy resources. In this study, oil price fluctuations and the intensity of commercial development on the consumption of renewable energies in oil-exporting countries including Saudi Arabia, Russia, Iraq, Canada, Iran, the United Arab Emirates, Kuwait, Nigeria, Qatar, and Angola during the years 2000 to 2022 have been investigated. In this study, oil price fluctuations are calculated using the EGARCH method and then the results of estimating the pattern and the relationships between the variables are estimated in the framework of the GMM (Generalized Moments) model. The results show that in oil-exporting countries, oil price fluctuations with a coefficient of 0.36, the variable of intensity of commercial development with a coefficient of 0.08, innovation with a coefficient of 0.79, and the variable of human resource development with a coefficient of 0.29 will increase the consumption of renewable energies.