Alternative energy and its impact on the rentier economy of Iraq as a model

Abstract

   Despite the fluctuation of global crude oil prices, and their severe influence on global trade cycles, especially those that pass through countries that lead the volume of demand for oil, the returns generated from it at the general rate are relatively high. Therefore, the global oil market will be analyzed and its monopolistic characteristics will be explained, with a focus on OPEC, taking into account Iraq is an active member in it. On the other hand, calls to rely on alternative energy sources to oil have grown significantly. What are these calls and what are the expected scenarios for the success of the process of replacing oil with clean energy? The basic indicators of the Iraqi economy and the extent of oil’s contribution to them are then analysed, as a result of which a forward-looking vision is presented of the extent to which the Iraqi economy will be affected if the monopoly power of OPEC declines and the use of alternative energy sources to oil grows