Proceedings of the 2016 4th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2016)

Economic Analysis on Petroleum Consumption

Authors
Zhang-huang Ye, Qiang Yan, Xiao-jing Chen
Corresponding Author
Zhang-huang Ye
Available Online September 2016.
DOI
https://doi.org/10.2991/ieesasm-16.2016.149How to use a DOI?
Keywords
Petroleum, price, consumption proportion, foreign dependence degree, economic growth
Abstract
With the real GDP growth of the world's three largest economies-China, USA and Japan as dependent variables while international petroleum price growth, proportion of petroleum consumption and dependence on foreign petroleum as independent variables, this paper will probe into the relationship between dependent variables and independent variables based on the econometric model. Upon the analysis, it shows that rising international oil price and heavy dependence on petroleum consumption exert a negative influence on China's GDP, but they have little effect or even a positive effect on USA's GDP and Japan's GDP, which illustrates that USA and Japan have been well rewarded by their investment and exploration of overseas petroleum resources for many years.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Zhang-huang Ye
AU  - Qiang Yan
AU  - Xiao-jing Chen
PY  - 2016/09
DA  - 2016/09
TI  - Economic Analysis on Petroleum Consumption
BT  - 2016 4th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2016)
PB  - Atlantis Press
SN  - 2352-5428
UR  - https://doi.org/10.2991/ieesasm-16.2016.149
DO  - https://doi.org/10.2991/ieesasm-16.2016.149
ID  - Ye2016/09
ER  -