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Analysis of the Situation of Renewable and Non-Renewable Energy Consumption in the European Union

Constantin Anghelache (), Mădălina Gabriela Anghel, Ștefan Virgil Iacob (), Ion Pârțachi, Irina Gabriela Rădulescu and Alina Gabriela Brezoi
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Constantin Anghelache: Faculty of Cybernetics, Statistics and Economic Informatics, Department of Statistics and Econometrics, Bucharest University of Economic Studies, 6 Piata Romana, 1st District, 010374 Bucharest, Romania
Mădălina Gabriela Anghel: Faculty of Finance and Accounting, Artifex University of Bucharest, 47 Economu Cezărescu Street, 6st District, 060754 Bucharest, Romania
Ștefan Virgil Iacob: Faculty of Finance and Accounting, Artifex University of Bucharest, 47 Economu Cezărescu Street, 6st District, 060754 Bucharest, Romania
Ion Pârțachi: Department of Econometrics and Economic Statistics, Academy of Economic Sciences of Moldova, Str. Banulescu-Bodoni 61, MD-2005 Chișinău, Moldova
Irina Gabriela Rădulescu: Faculty of Economic Sciences, Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum—Gas University of Ploiesti, 39 Bucharest Boulevard, 100680 Ploieşti, Romania
Alina Gabriela Brezoi: Faculty of Economic Sciences, Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum—Gas University of Ploiesti, 39 Bucharest Boulevard, 100680 Ploieşti, Romania

Energies, 2023, vol. 16, issue 3, 1-15

Abstract: In this article, the authors present the results of research undertaken in relation to the situation regarding renewable and non-renewable energy reserves in the European Union, as well as the way in which this energy is consumed. The general view presented regarding energy resources around the world is that oil, natural gas and coal are being exhausted at an alarming rate and if we continue to exploit these oil resources at our current pace, we will see a massive depletion in energy resources over the next 41 years. The authors also focus on representing the intensity of greenhouse gas emissions from energy consumption, demonstrating that it has shown a slight decrease in the European Union. The resources and consumption of renewable and non-renewable energy were analyzed in close interdependence with these indicators under study, such as final energy consumption, renewable energy and total energy production, in order to give a correct interpretation of how these resources are used. At the same time, starting from the fact that the world economy is currently facing a cluster of crises (pandemic, financial-economic, energy, general resources), it was deemed important to highlight the fact that the total production of energy demonstrated an oscillating trend during this period.

Keywords: renewable energy; fossil fuels; European Union; energy transition (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
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