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Article

Open Access

Contribution to the Economic Analysis of Hydrocarbon Exploitation in the Eastern Mediterranean Region

Author(s)

Odysseas Kopsidas

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DOI:10.17265/2328-7144/2021.03.003

Affiliation(s)

Aristotle University of Thessaloniki, Thessaloniki, Greece

ABSTRACT

The present paper is a contribution to the economic analysis of the exploitation of depleted natural resources and in particular hydrocarbons in the wider Eastern Mediterranean region. The methodological tools used are both the marginal economic analysis, the application of the Hotelling rule and the multi-criteria choice of exploitation of a natural resource with sensitivity analysis of the first and second optimal solution. The choice of natural resource used to be based on a single criterion, cost. Today, the multi-criteria method is followed, according to which many criteria are taken into account at the same time. The return on investment from the exploitation of a mineral resource in the wider Eastern Mediterranean region is obtained through multi-criteria selection and sensitivity analysis of the prevailing solution.

KEYWORDS

economic analysis, hydrocarbons, multi-criteria selection, Hotelling Rule, Eastern Mediterranean

Cite this paper

Economics World, July-Sep. 2021, Vol. 9, No. 3, 122-125 doi: 10.17265/2328-7144/2021.03.003

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