Global Energy Crisis: Evidence From Egypt Using Neural Network
- Mohammed Galal Abdallah Mostafa , Economic Department, Faculty of Commerce, Mansoura University, Egypt.
- Mohammed Ahamed Mohamed Mater , Economic Department, Faculty of Commerce, Mansoura University, Egypt.
- Eman Ahmed Ahmed Awad , Economic Department, Nile Higher Institute for Commercial Science and Computer Technology, Egypt.
- Mohamed Maher , Economic Department, Faculty of Commerce, Mansoura University, Egypt.
- Mahmoud Ibrahim Mansour Gomaa , Economic Department, Faculty of Commerce, Mansoura University, Egypt.
- Mousa Gowfal Selmey , Economic Department, Faculty of Commerce, Mansoura University, Egypt.
- Nabil Medhat Arafat Mahmoud , Applied Statistics and insurance Department, Faculty of Commerce, Mansoura University, Egypt.
- Neveen Mohsen Ahamed Zaki , Applied Statistics and insurance Department, Faculty of Commerce, Mansoura University, Egypt.
Keywords:
Energy Crisis; causes; Egypt; neural network, Energy Crisis, Neural Network Analysis, Renewable Energy, Hydrogen and Electric Vehicles..
Abstract
The paper will discuss the energy crisis within the framework of international geopolitics and its particular consequences on the Arab Republic of Egypt between 2000-2022. It examines the most critical aspects that led to the challenges in energy in Egypt and evaluates their socio-economic outcomes. The research uses the methodology of the neural network to list and prioritize the main factors that lead to the energy crisis in Egypt. It was found that the most notable factors are the increased prices of energy in the world and high rate of population growth, which causes significant pressure on the national energy supply. Secondary factors encompass an increased inflation and exportation of energy resources that increase the domestic shortage. Meanwhile, the impact of other variables, including urbanization and the general economic growth, turned out to be insignificant on the crisis. The paper indicates the impact of such factors such as pressure on the existing services, higher energy prices, and possible derailments of sustainable development targets. The study gives strategic recommendations on how to mitigate the crisis and improve the energy security based on these findings. The most important of these recommendations is to encourage the investment in renewable sources of energy and especially in hydrogen energy as one of the promising sources. Also, the paper suggests the creation and introduction of the strategies aimed at localizing the manufacturing of electric vehicles in Egypt in order to decrease the reliance on imported energy and promote technological innovation in the local market. This study provides useful information to policymakers, energy planners, and other interested parties facing the Egyptian energy problems within the international environment that is changing.