Assessing the impact of oil and gas trading, foreign direct investment inflows, and economic growth on carbon emission for OPEC member countries

Assessing the impact of oil and gas trading, foreign direct investment inflows, and economic growth on carbon emission for OPEC member countries

The exploration of oil and gas contributes to green-house-gas. While exploring countries ensures economic growth, their activities also contribute to environmental pollution through carbon emissions. The 13-member states of the Organization of the Petroleum Exporting Countries (OPEC) are the world’s...

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Bibliographic Details
Published in:Environmental science and pollution research international Vol. 29; no. 28; pp. 43089 - 43101
Main Authors: Ostic, Dragana, Twum, Angelina Kissiwaa, Agyemang, Andrew Osei, Boahen, Helena Adu
Format: Journal Article
Language:English
Published: Berlin/Heidelberg Springer Berlin Heidelberg 01-06-2022
Springer Nature B.V
Subjects:
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
Carbon
Carbon Dioxide - analysis
Earth and Environmental Science
Economic Development
Economic growth
Economics
Ecotoxicology
Emissions
Emissions trading
Empirical analysis
Environment
Environmental Chemistry
Environmental Health
Environmental protection
Environmental science
Exports
Foreign investment
Impact analysis
Investments
Multiple regression analysis
Oil and gas exploration
Oil exploration
Petroleum
Research Article
Statistical analysis
Waste Water Technology
Water Management
Water Pollution Control
Foreign direct investment
Carbon emission
OPEC
Economic growth
Oil and gas trading
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Summary:The exploration of oil and gas contributes to green-house-gas. While exploring countries ensures economic growth, their activities also contribute to environmental pollution through carbon emissions. The 13-member states of the Organization of the Petroleum Exporting Countries (OPEC) are the world’s most important oil-producing and exporting countries. Since the safety of a country’s oil and gas resources is related to the country’s economic growth and environmental protection, this study aims at assessing the impact of oil and gas trading, foreign direct investment inflows, and economic growth on carbon emission for OPEC member countries. Using secondary data from 2000 to 2018, the authors utilized Stata and EViews statistical software for the empirical studies. The fully modified least squares (FMOLS) and the generalized methods of moments estimators were used for the multiple regression. The findings from the multiple regression analysis revealed a positive but statistically insignificant relationship between oil and gas export and carbon emissions. On the contrary, an inverse relationship that is statistically significant was found between foreign direct investment inflows and carbon emissions. Also, a positive and statistically significant relationship was found between economic growth and carbon emissions for OPEC member countries. The research findings contribute to previous literature on petroleum exploration activities and give clues to policy-makers and stakeholders in putting in measures to ensure economic growth while promoting environmental protection for OPEC member countries.
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ISSN:0944-1344
1614-7499
DOI:10.1007/s11356-021-18156-0