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Analysis of Energy Intensity Trend in the OECD Countries

Economic evolutions have been energy related in the last few decades. The energy crisis in I970ʹs, which led to the economic depression of OECD countries, caused that energy be considered as a dominant factor of production in the economics literature. Although the industrialized countries have allocated a large amount of consumption to themselves, but generally they have applied policies in order to promote energy efficiency and therefore, to reduce energy intensity. The study of the trend of energy intensity in different periods of economic growth in OECD countries demonstrates a model that can he used for the economic of energy exporting countries. In this research price and GDP impacts on energy intensity has been considered. The asymmetric effects of changes in price and GDP on energy intensity are analyzed. The results obtained from this research indicate that not only energy intensity reduction follows from price and GDP increases but also the same pattern exists while price and GDP decrease. This means that the crisis of 1970ʹs has been the tune of neo-industrial revolution that appears as an energy efficiency promotion