Analysis of the Robustness of Norway's Economy and Energy Supply/Demand Fluctuations

Abstract

The high dependency on fossil fuels, fluctuations in prices and supply have macro/micro-economics effects for both energy exporters and importers. Therefore, understanding economic stability based on energy market changes is an important subject for policymakers and researchers. Norway, as a fossil fuel exporting country, is a good choice for the analysis of the relationships between economic robustness and fossil fuel economic fluctuations. While the country is one of the pioneers in the field of sustainable energy utilization, they have tried to provide a robust economic environment for oil export revenues. In this chapter, the impacts of energy changes on the economy are investigated in Norway. In this regard, first, the impact of oil prices on macro-economic parameters is discussed. Afterwards, the main issues related to energy economics including resilience of the energy sector, energy policies, economics analysis of the energy sector, and the electricity markets are discussed.