Understanding the Role of Renewable Energy in Import Demand for Petrochemicals Is the Prevailing Perception More Imagined Than Real?

The prevailing perception is that the transition to renewable energy ­will lead to a decrease in demand for hydrocarbons and petrochemicals. The pre­sent work empirically demonstrates that this common sense may be more imaginary than real: it finds evidence that the renewable energy development may have a positive impact on hydrocarbons through its growing demand for petrochemicals.