IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v91y2024ics0301420724001740.html
   My bibliography  Save this article

Energy infrastructure: Investment, sustainability and AI

Author

Listed:
  • Popkova, Elena G.
  • Sergi, Bruno S.

Abstract

This paper provides theoretical and methodological underpinnings for optimal investment decisions in the oil & gas industry. In doing so, this paper investigates how to transition from intuitive investment decisions to processing big data. AI and flexible and interactive databases allow for rationalizing decision-making and avoiding randomly insufficiently high environmental effects of investment projects. The corporate responsibility of the oil & gas industry enterprises will be subject to quantitative measurement, statistical accounting, and broad state and public monitoring. The perspectives of the oil & gas industry must connect to the systemic of projects in sustainable development and digitalization. The paper recommends acquiring collections of companies' interactive profiles to manage this industry on big data processing and AI technologies. The analysis supports the necessity for “green” regulation, the development of “smart” dataset monitoring controlled by AI and enterprises’ corporate responsibility subjected to quantitative measurement, statistical accounting, and broad public tracking.

Suggested Citation

  • Popkova, Elena G. & Sergi, Bruno S., 2024. "Energy infrastructure: Investment, sustainability and AI," Resources Policy, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:jrpoli:v:91:y:2024:i:c:s0301420724001740
    DOI: 10.1016/j.resourpol.2024.104807
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420724001740
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2024.104807?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Fasano, Matteo & Morciano, Matteo & Bergamasco, Luca & Chiavazzo, Eliodoro & Zampato, Massimo & Carminati, Stefano & Asinari, Pietro, 2021. "Deep-sea reverse osmosis desalination for energy efficient low salinity enhanced oil recovery," Applied Energy, Elsevier, vol. 304(C).
    2. Wang, Jue & Zhou, Hao & Hong, Tao & Li, Xiang & Wang, Shouyang, 2020. "A multi-granularity heterogeneous combination approach to crude oil price forecasting," Energy Economics, Elsevier, vol. 91(C).
    3. Daniil P. Frolov & Elena G. Popkova & Anastasia S. Strekalova & Irina V. Marushchak, 2017. "Strategic Planning of Regional Ecological Development: Adaptation of Elinor Ostrom’s Principles in Russia," Contributions to Economics, in: Elena G. Popkova (ed.), Russia and the European Union, pages 39-45, Springer.
    4. Valenti, Daniele & Manera, Matteo & Sbuelz, Alessandro, 2020. "Interpreting the oil risk premium: Do oil price shocks matter?," Energy Economics, Elsevier, vol. 91(C).
    5. Semeyutin, Artur & Gozgor, Giray & Lau, Chi Keung Marco & Xu, Bing, 2021. "Effects of idiosyncratic jumps and co-jumps on oil, gold, and copper markets," Energy Economics, Elsevier, vol. 104(C).
    6. Calderón, Andrés J. & Pekney, Natalie J., 2020. "Optimization of enhanced oil recovery operations in unconventional reservoirs," Applied Energy, Elsevier, vol. 258(C).
    7. Elena G. Popkova & Lilia Poluyufta & Yulia Beshanova & Larisa V. Popova & Elena Kolesnikova, 2017. "Innovations as a Basis for Marketing Strategies of Russian Oil Companies in the Conditions of Oil Prices Reduction," Contributions to Economics, in: Elena G. Popkova (ed.), Overcoming Uncertainty of Institutional Environment as a Tool of Global Crisis Management, pages 449-455, Springer.
    8. Khajehpour, Hossein & Miremadi, Iman & Saboohi, Yadollah & Tsatsaronis, George, 2020. "A novel approach for analyzing the effectiveness of the R&D capital for resource conservation: Comparative study on Germany and UK electricity sectors," Energy Policy, Elsevier, vol. 147(C).
    9. Tan, Xueping & Geng, Yong & Vivian, Andrew & Wang, Xinyu, 2021. "Measuring risk spillovers between oil and clean energy stocks: Evidence from a systematic framework," Resources Policy, Elsevier, vol. 74(C).
    10. Xu, Jin-Hua & Yi, Bo-Wen & Fan, Ying, 2020. "Economic viability and regulation effects of infrastructure investments for inter-regional electricity transmission and trade in China," Energy Economics, Elsevier, vol. 91(C).
    11. Ulyana A. Pozdnyakova & Elena G. Popkova & Irina M. Kuzlaeva & Olga M. Lisova & Nelli A. Saveleva, 2017. "Strategic Management of Clustering Policy During Provision of Sustainable Development," Contributions to Economics, in: Elena G. Popkova & Valentina E. Sukhova & Aleksey F. Rogachev & Yulia G. Tyurina & Olga A. Boris & V (ed.), Integration and Clustering for Sustainable Economic Growth, pages 413-421, Springer.
    12. Pradhan, Ashis Kumar & Tiwari, Aviral Kumar, 2021. "Estimating the market risk of clean energy technologies companies using the expected shortfall approach," Renewable Energy, Elsevier, vol. 177(C), pages 95-100.
    13. Lee, You-Kyung, 2020. "Sustainability of nuclear energy in Korea: From the users’ perspective," Energy Policy, Elsevier, vol. 147(C).
    14. Delpachitra, Sarath & Hou, Keqiang & Cottrell, Simon, 2020. "The impact of oil price shocks in the Canadian economy: A structural investigation on an oil-exporting economy," Energy Economics, Elsevier, vol. 91(C).
    15. Xiao, Di & Wang, Jun, 2020. "Dynamic complexity and causality of crude oil and major stock markets," Energy, Elsevier, vol. 193(C).
    16. Corrocher, Nicoletta & Cappa, Elisabetta, 2020. "The Role of public interventions in inducing private climate finance: An empirical analysis of the solar energy sector," Energy Policy, Elsevier, vol. 147(C).
    17. Naeem, Muhammad Abubakr & Bouri, Elie & Costa, Mabel D. & Naifar, Nader & Shahzad, Syed Jawad Hussain, 2021. "Energy markets and green bonds: A tail dependence analysis with time-varying optimal copulas and portfolio implications," Resources Policy, Elsevier, vol. 74(C).
    18. Junqiao Zhang & Xuebo Chen & Qiubai Sun, 2019. "A Safety Performance Assessment Framework for the Petroleum Industry’s Sustainable Development Based on FAHP-FCE and Human Factors," Sustainability, MDPI, vol. 11(13), pages 1-20, June.
    19. Zhan, Honglei & Wang, Yan & Chen, Mengxi & Chen, Ru & Zhao, Kun & Yue, Wenzheng, 2020. "An optical mechanism for detecting the whole pyrolysis process of oil shale," Energy, Elsevier, vol. 190(C).
    20. Li, Hong & Zhou, Hao & Liu, Kailong & Gao, Xin & Li, Xingang, 2021. "Retrofit application of traditional petroleum chemical technologies to coal chemical industry for sustainable energy-efficiency production," Energy, Elsevier, vol. 218(C).
    21. Li, Menghan & Hamawandy, Nawzad Majeed & Wahid, Fazle & Rjoub, Husam & Bao, Zongke, 2021. "Renewable energy resources investment and green finance: Evidence from China," Resources Policy, Elsevier, vol. 74(C).
    22. Zheng, Yan & Yin, Hua & Zhou, Min & Liu, Wenhua & Wen, Fenghua, 2021. "Impacts of oil shocks on the EU carbon emissions allowances under different market conditions," Energy Economics, Elsevier, vol. 104(C).
    23. Veronika Yu. Chernova & Veronika Yu. Chernova & Vasily S. Starostin & Ekaterina A. Degtereva & Inna V. Andronova, 2019. ". Study of sector-specific innovation efforts: the case from Russian economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 540-552, September.
    24. Zhang, Xiang & Wei, Bing & You, Junyu & Liu, Jiang & Wang, Dianlin & Lu, Jun & Tong, Jing, 2021. "Characterizing pore-level oil mobilization processes in unconventional reservoirs assisted by state-of-the-art nuclear magnetic resonance technique," Energy, Elsevier, vol. 236(C).
    25. Li, Jing & Zhang, Lisong & Yang, Feiyue & Sun, Luning, 2020. "Positive measure and potential implication for heavy oil recovery of dip reservoir using SAGD based on numerical analysis," Energy, Elsevier, vol. 193(C).
    26. Freeman, Gerad M. & Apt, Jay & Moura, John, 2020. "What causes natural gas fuel shortages at U.S. power plants?," Energy Policy, Elsevier, vol. 147(C).
    27. Khalilpour, Kaveh R. & Lusis, Peter, 2020. "Network capacity charge for sustainability and energy equity: A model-based analysis," Applied Energy, Elsevier, vol. 266(C).
    28. Winskel, Mark & Kattirtzi, Michael, 2020. "Transitions, disruptions and revolutions: Expert views on prospects for a smart and local energy revolution in the UK," Energy Policy, Elsevier, vol. 147(C).
    29. Felten, Björn, 2020. "An integrated model of coupled heat and power sectors for large-scale energy system analyses," Applied Energy, Elsevier, vol. 266(C).
    30. Delannoy, Louis & Longaretti, Pierre-Yves & Murphy, David J. & Prados, Emmanuel, 2021. "Peak oil and the low-carbon energy transition: A net-energy perspective," Applied Energy, Elsevier, vol. 304(C).
    31. Wang, Fayuan & Wang, Rong & He, Zhili, 2021. "The impact of environmental pollution and green finance on the high-quality development of energy based on spatial Dubin model," Resources Policy, Elsevier, vol. 74(C).
    32. Nicoletti, Jack & You, Fengqi, 2020. "Multiobjective economic and environmental optimization of global crude oil purchase and sale planning with noncooperative stakeholders," Applied Energy, Elsevier, vol. 259(C).
    33. Irina A. Morozova & Elena G. Popkova & Tatiana N. Litvinova, 2019. "Sustainable development of global entrepreneurship: infrastructure and perspectives," International Entrepreneurship and Management Journal, Springer, vol. 15(2), pages 589-597, June.
    34. Tang, Ling & Zhang, Chengyuan & Li, Ling & Wang, Shouyang, 2020. "A multi-scale method for forecasting oil price with multi-factor search engine data," Applied Energy, Elsevier, vol. 257(C).
    35. Shahbaz, Muhammad & Trabelsi, Nader & Tiwari, Aviral Kumar & Abakah, Emmanuel Joel Aikins & Jiao, Zhilun, 2021. "Relationship between green investments, energy markets, and stock markets in the aftermath of the global financial crisis," Energy Economics, Elsevier, vol. 104(C).
    36. W. Dong & B. Kang, 2021. "Evaluation of gas sales agreements with indexation using tree and least-squares Monte Carlo methods on graphics processing units," Quantitative Finance, Taylor & Francis Journals, vol. 21(3), pages 501-522, March.
    37. Bonato, Matteo & Çepni, Oğuzhan & Gupta, Rangan & Pierdzioch, Christian, 2021. "Do oil-price shocks predict the realized variance of U.S. REITs?," Energy Economics, Elsevier, vol. 104(C).
    38. Liu, Litao & Cao, Zhi & Liu, Xiaojie & Shi, Lei & Cheng, Shengkui & Liu, Gang, 2020. "Oil security revisited: An assessment based on complex network analysis," Energy, Elsevier, vol. 194(C).
    39. Tang, Yong & Chen, Yulin & He, Youwei & Yu, Guangming & Guo, Xifeng & Yang, Qing & Wang, Yong, 2021. "An improved system for evaluating the adaptability of natural gas flooding in enhancing oil recovery considering the miscible ability," Energy, Elsevier, vol. 236(C).
    40. Kunatsa, Tawanda & Xia, Xiaohua, 2021. "Co-digestion of water hyacinth, municipal solid waste and cow dung: A methane optimised biogas–liquid petroleum gas hybrid system," Applied Energy, Elsevier, vol. 304(C).
    41. Azimli, Asil, 2020. "The oil price risk and global stock returns," Energy, Elsevier, vol. 198(C).
    42. Zhao, Yuan & Zhang, Weiguo & Gong, Xue & Wang, Chao, 2021. "A novel method for online real-time forecasting of crude oil price," Applied Energy, Elsevier, vol. 303(C).
    43. Wang, Xunxiao, 2020. "Frequency dynamics of volatility spillovers among crude oil and international stock markets: The role of the interest rate," Energy Economics, Elsevier, vol. 91(C).
    44. Yousaf Raza, Muhammad & Lin, Boqiang, 2021. "Oil for Pakistan: What are the main factors affecting the oil import?," Energy, Elsevier, vol. 237(C).
    45. Sharma, Gagan Deep & Tiwari, Aviral Kumar & Erkut, Burak & Mundi, Hardeep Singh, 2021. "Exploring the nexus between non-renewable and renewable energy consumptions and economic development: Evidence from panel estimations," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).
    46. Alqahtani, Abdullah & Klein, Tony, 2021. "Oil price changes, uncertainty, and geopolitical risks: On the resilience of GCC countries to global tensions," Energy, Elsevier, vol. 236(C).
    47. Qin, Meng & Su, Chi-Wei & Hao, Lin-Na & Tao, Ran, 2020. "The stability of U.S. economic policy: Does it really matter for oil price?," Energy, Elsevier, vol. 198(C).
    48. Peng Li & Runhuan Feng, 2021. "Nested Monte Carlo simulation in financial reporting: a review and a new hybrid approach," Scandinavian Actuarial Journal, Taylor & Francis Journals, vol. 2021(9), pages 744-778, October.
    49. Eisapour, M. & Eisapour, Amir Hossein & Hosseini, M.J. & Talebizadehsardari, P., 2020. "Exergy and energy analysis of wavy tubes photovoltaic-thermal systems using microencapsulated PCM nano-slurry coolant fluid," Applied Energy, Elsevier, vol. 266(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aghilasse Kashi & Mohamed Eskandar Shah, 2023. "Bibliometric Review on Sustainable Finance," Sustainability, MDPI, vol. 15(9), pages 1-30, April.
    2. Wei, Ping & Qi, Yinshu & Ren, Xiaohang & Gozgor, Giray, 2023. "The role of the COVID-19 pandemic in time-frequency connectedness between oil market shocks and green bond markets: Evidence from the wavelet-based quantile approaches," Energy Economics, Elsevier, vol. 121(C).
    3. Togonidze, Sophio & Kočenda, Evžen, 2022. "Macroeconomic responses of emerging market economies to oil price shocks: An analysis by region and resource profile," Economic Systems, Elsevier, vol. 46(3).
    4. Cao, Fangzhi & Su, Chi-Wei & Sun, Dian & Qin, Meng & Umar, Muhammad, 2024. "U.S. monetary policy: The pushing hands of crude oil price?," Energy Economics, Elsevier, vol. 134(C).
    5. Su, Chi Wei & Song, Xin Yue & Qin, Meng & Lobonţ, Oana-Ramona, 2024. "Is copper a safe haven for oil?," Resources Policy, Elsevier, vol. 91(C).
    6. Xiao, Jihong & Wang, Yudong, 2021. "Investor attention and oil market volatility: Does economic policy uncertainty matter?," Energy Economics, Elsevier, vol. 97(C).
    7. Popkova, Elena G. & Bogoviz, Aleksei V. & Lobova, Svetlana V. & DeLo, Piper & Alekseev, Alexander N. & Sergi, Bruno S., 2023. "Environmentally sustainable policies in the petroleum sector through the lens of industry 4.0. Russians Lukoil and Gazprom: The COVID-19 crisis of 2020 vs sanctions crisis of 2022," Resources Policy, Elsevier, vol. 84(C).
    8. Su, Chi-Wei & Yuan, Xi & Tao, Ran & Shao, Xuefeng, 2022. "Time and frequency domain connectedness analysis of the energy transformation under climate policy," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    9. Hao, Jun & Feng, Qianqian & Yuan, Jiaxin & Sun, Xiaolei & Li, Jianping, 2022. "A dynamic ensemble learning with multi-objective optimization for oil prices prediction," Resources Policy, Elsevier, vol. 79(C).
    10. Bouri, Elie & Iqbal, Najaf & Klein, Tony, 2022. "Climate policy uncertainty and the price dynamics of green and brown energy stocks," Finance Research Letters, Elsevier, vol. 47(PB).
    11. Arfaoui, Nadia & Naeem, Muhammad Abubakr & Maherzi, Teja & Kayani, Umar Nawaz, 2024. "Can green investment funds hedge climate risk?," Finance Research Letters, Elsevier, vol. 60(C).
    12. Tao Shi, 2022. "The Spatiotemporal Evolutionary Trend and Driving Factors of the Coupling Coordinated Development between Regional Green Finance and Ecological Environment," IJERPH, MDPI, vol. 19(10), pages 1-25, May.
    13. Minli Yu & Fu-Sheng Tsai & Hui Jin & Hejie Zhang, 2022. "Digital finance and renewable energy consumption: evidence from China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-19, December.
    14. Ziadat, Salem Adel & Mensi, Walid & Al-Kharusi, Sami & Vo, Xuan Vinh & Kang, Sang Hoon, 2024. "Are clean energy markets hedges for stock markets? A tail quantile connectedness regression," Energy Economics, Elsevier, vol. 136(C).
    15. Xu, Kunliang & Niu, Hongli, 2023. "Denoising or distortion: Does decomposition-reconstruction modeling paradigm provide a reliable prediction for crude oil price time series?," Energy Economics, Elsevier, vol. 128(C).
    16. Li, Jieyi & Qian, Shuangyue & Li, Ling & Guo, Yuanxuan & Wu, Jun & Tang, Ling, 2024. "A novel secondary decomposition method for forecasting crude oil price with twitter sentiment," Energy, Elsevier, vol. 290(C).
    17. He, Junming & Iqbal, Wasim & Su, Fangli, 2023. "Nexus between renewable energy investment, green finance, and sustainable development: Role of industrial structure and technical innovations," Renewable Energy, Elsevier, vol. 210(C), pages 715-724.
    18. Mensi, Walid & Vo, Xuan Vinh & Kang, Sang Hoon, 2021. "Precious metals, oil, and ASEAN stock markets: From global financial crisis to global health crisis," Resources Policy, Elsevier, vol. 73(C).
    19. Zhang, Teng & Xu, Zhiwei & Li, Jiaqi, 2023. "The asset pricing implications of global oil price uncertainty: Evidence from the cross-section of Chinese stock returns," Energy, Elsevier, vol. 285(C).
    20. He, Hairong, 2024. "Nexus of natural resources exploitation, social protection, and sustainable environment: COP27 is a sufficient solution?," Resources Policy, Elsevier, vol. 96(C).

    More about this item

    Keywords

    Big data set; Oil & gas industry; Investment; Development; Sustainability; AI;
    All these keywords.

    JEL classification:

    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jrpoli:v:91:y:2024:i:c:s0301420724001740. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/30467 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.