These studies are not without controversy, and the last years increasing evidence is brought forward by scholars who contest this ruling notion. The claim with respect to the positive relationship can be countered with the simple observation that many countries, such as the U.S., China, and the form Contact online >>
These studies are not without controversy, and the last years increasing evidence is brought forward by scholars who contest this ruling notion. The claim with respect to the positive relationship can be countered with the simple observation that many countries, such as the U.S., China, and the former Soviet Union, have been experiencing declining energy intensities for years on end; the driving factor for the decline lies in the transition away from energy-intensive industries towards more service oriented economies [2, 3].
In the field of energy efficiency and conservation such feats have been observed. Lovins [14] described the creation of an industry with increasing returns in the case of Cuba during 2006 and 2007 when the island underwent the transition towards energy efficiency and savings. Amory Lovins [15] has even argued that the introduction of energy efficiency and energy savings measures (at a cost of $ 0.5 trillion) in the Unites States will save $ 1.9 trillion up to 2050, while it can simultaneously grow the economy by 158%.
This paper continues with a brief theoretical background, with thereafter detailing the methodology. The sections thereafter respectively display the data and analysis, and the discussion of the results. The last section provides concluding remarks.
2. Theoretical Background2.1. The energy consumption ? economic growth nexus revisitedOver the years, many academics have attempted to make links between energy consumption and economic growth, the so-called energy consumption ? economic growth nexus [20-22]. These efforts have produced figures such as the one depicted in Figure 1, which displays Gross Domestic Product per capita as a function of energy use for different countries.
Figure 1: Gross Domestic Product (BBP in Dutch) per capita as a function of energy use for different countries (compiled using data from the United Nations Development Program and the World Bank).
This thought has gained further stronghold due to a myriad of research done on this nexus. These researches utilize various statistical methods and tools to identify the strength of the correlation between GDP and energy consumption [1, 27-31]. These studies encompass many different cases and periods, and describe the strength and direction of the causality between energy consumption and economic growth [1].
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