How mathematical modeling helps the GCC countries make energy policy decisions: A case study of the KAPSARC Energy Model
Ghada Abdulla , Imtenan Al-Mubarak and Shahad Al-Bardi
Because the hydrocarbon sector is responsible for such a large proportion of the gross domestic product of the GCC states’, maximizing the value obtained from these resources in a sustainable way is essential. In this regard, modeling the energy sector is a key tool for better understanding of the energy markets. Energy systems models help in analyzing different scenarios and hence may assist policymakers to formulate energy policy. Energy systems models have been used for a wide range of purposes, such as identifying the most economically efficient fuel mix or the most efficient energy production techniques to use in a country, analyzing different energy pricing policies and forecasting and making future projections.
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