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Navigating the Oil-environment Nexus: Saudi Arabia’s Challenge in Sustainable Development

Author

Listed:
  • Ahmed Benlaria

    (Faculty of Economics, Business, and Management, Ahmed Draia University of Adrar, Algeria)

  • Naima Sadaoui

    (Department of Business Administration, Jouf University, Saudi Arabia)

  • Naeimah Fahad S. Almawishir

    (Department of Business Administration, Jouf University, Saudi Arabia)

  • Houcine Benlaria

    (Department of Business Administration, Jouf University, Saudi Arabia)

Abstract

This paper delves into Saudi Arabia's challenge of aligning its substantial oil production with environmental sustainability goals, particularly within the framework of Vision 2030. Utilizing an Autoregressive Distributed Lag (ARDL) approach, it examines data from 1980 to 2022, analyzing the relationships between oil production, economic growth, CO2 emissions, and environmental regulation compliance. The study highlights the intricate dynamics between oil-driven economic development and environmental conservation, revealing significant long-term correlations that underscore the environmental costs accompanying economic benefits derived from oil. These findings illuminate the delicate balance Saudi Arabia faces, pointing to the need for sustainable practices in the oil industry and diversified economic growth. The research provides strategic insights for policy formulation, aiming to harmonize economic prosperity with environmental health. This work contributes significantly to the discourse on sustainable development in resource-rich economies, offering a vital perspective on managing natural resources responsibly while pursuing economic growth.

Suggested Citation

  • Ahmed Benlaria & Naima Sadaoui & Naeimah Fahad S. Almawishir & Houcine Benlaria, 2024. "Navigating the Oil-environment Nexus: Saudi Arabia’s Challenge in Sustainable Development," International Journal of Energy Economics and Policy, Econjournals, vol. 14(5), pages 292-300, September.
    • Handle: RePEc:eco:journ2:2024-05-30
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    More about this item

    Keywords

    Saudi Vision 2030; Environmental Sustainability; Oil Production; Energy Policy; Economic Growth; CO2 Emissions;
    All these keywords.

    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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