The role of innovation in reducing dependence on crude oil?

Abstract

Experts, but also ordinary people (consumers) are wondering what is the future of crude oil? The answer to these questions is extremely important, because in the last sixty years crude oil has become the most important raw material in the world's energy balance, but also a product that practically every consumer accompanies in everyday life. At the level of national economies, the vast majority depend on oil, some on its exports, and others on its imports. Declared and implemented, primarily by the European Union, the concept of abandoning the use of hydrocarbons in the economy will significantly affect the future shape of the world economy. Depleting resources of energy resources should also be taken into account, but this issue seems to be of less importance. Developing countries, which are mostly dependent on the export of raw materials, including oil from the point of view of this article, face a great challenge in the next 20-30 years. They have to carry out not only a fundamental transformation of their economies, but also the reconstruction of societies which, when confronted with the societies of developed countries, have little chance on international markets. Among the developing oil exporting countries, the countries of the Gulf Cooperation Council, thanks to forty years of integration, despite difficult periods and consistently pursued economic policy, have a good chance of entering the group of developed countries