Eneryg

Economic sanctions imposed on Heterogeneous states have played an important role as a tool of pressure in recent decades. Considering that most non-conforming states with the US are important players on the energy market, a large part of this country's sanctions policy has been focused on the energy sector. With the evolution of the US shale oil industry, using energy as a tool of sanctions against target countries has received increasing attention by US presidents in recent years. The US is using the geopolitical shift as an international strategy to compete with other powers in the energy sector such as Iran, Venezuela, and Russia. The US aims to use its energy embargo policy to curtail the influence of these players on the energy market and prevent their anti-American policies by fermenting economic crises within these countries. The question arises as to the extent of the effectiveness and sustainability of this US foreign policy strategy in a transitional international order. The article hypothesis is that due to inefficient unconventional resources in terms of market crisis, the rise of counter-hegemonic coalitions, and geopolitical tensions in regions such as the Middle East, one cannot be too optimistic about the sustainability of this situation. The authors of the article will endeavor to explain the above hypothesis within the framework of the hegemony theory and by using the trend-analysis technique, while addressing the driving forces.

The main aim of this study was to determine the impact of energy production on economic growth in Ghana. The Ordinary least squares method of estimation was used to determine the values of the respective parameter estimates. The study identified that Ghana is still a developing country that needs enough energy supply to expand to become an industrialized economy. Also, the study revealed that there is a positive relationship between electricity production and economic growth despite the unstable nature of electric power supply in Ghana. The value of the impact is 0.0500175. That is, the degree of the responsiveness is 0.0500175 meaning an inelastic effect. This implies that electricity production is an input of necessity to or key to Ghana’s economic expansion and sustainability development though statistically insignificant. Therefore, the policy suggestion is that the government should continue to invest massively into energy sector of the Ghanaian economy to ensure consistent and sustainable supply of energy to the industrial, commercial and residential units of the economy in order to achieve significant impact on the overall economic growth and development of Ghana.