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- Title
Energy security-related risks and the quest to attain USA's net-zero emissions targets by 2050: a dynamic ARDL simulations modeling approach.
- Authors
Usman, Ojonugwa; Ozkan, Oktay; Alola, Andrew Adewale; Ghardallou, Wafa
- Abstract
The Russia-Ukraine war and other similar conflicts across the globe have heightened risks to the United States of America's (USA's) energy security. However, little is known about the severity of the effect of energy security risks on the USA's quest to attain net-zero emissions targets by 2050. To this end, we examine the effect of energy security risks on the load capacity factor (LCF) in the USA. Employing a time series dataset spinning from 1970 to 2018, the results of the Dynamic Autoregressive Distributed Lag (ARDL) simulations model suggest that energy security-related risk hampers the long-term net-zero emissions targets with its effect decreasing over time until it varnishes in about 5 years time. The results also show that foreign direct investment (FDI) inflows, renewable energy consumption, and green technology have long- and short-run positive effects on the LCF. Conversely, economic expansion and urbanization impede environmental quality by lowering the LCF both in the long run and short run. These findings are upheld by the outcomes of the multivariate quantile-on-quantile regression. Therefore, the study advocates for the consumption of renewable energy, investment in green technologies, and FDI inflows to mitigate energy security-related risks and attain the net-zero emissions targets by 2050 in the USA.
- Subjects
UKRAINE; RUSSIA; DYNAMIC simulation; MOSQUITO nets; GREEN technology; RUSSIAN invasion of Ukraine, 2022-; ENVIRONMENTAL quality; FOREIGN investments; ENERGY security
- Publication
Environmental Science & Pollution Research, 2024, Vol 31, Issue 12, p18797
- ISSN
0944-1344
- Publication type
Article
- DOI
10.1007/s11356-024-32124-4