Abstract

This research aims to measure and analyze the impact of renewable energy consumption on global oil prices and to show the impact of these two variables on the growth of the Iraqi economy, based on the deductive approach and using the descriptive and quantitative methods (econometric models) based on annual data for the period (1965-2020) with regard to measuring the impact of consumption Renewable energy in global oil prices, and quarterly data for the period (2004q1-2020q4) regarding measuring the impact of oil prices and renewable energy consumption on the gross domestic product in Iraq, and the study found a weak inverse relationship between global consumption of renewable energy and global oil prices, as It concluded that there is also a weak inverse relationship between global consumption of renewable energy and GDP in Iraq, while there is a direct relationship between global oil prices and GDP in Iraq, and therefore these results portend an economically unsecured future for Iraq if its economy remains rentier and the world continues to The development of renewable energy sources, which calls for the development of economic policies that take into account the development of economic sectors and other sectors (industry, agriculture’ tourism) to increase its contribution to the formation of its gross domestic product in Iraq and to provide sources of financing for the state’s general budget.