The Effects Of Energy Price On Energy Market And Carbon And Sulfur Emissions: An Empirical Analysis And Research In Chinese Energy Market

In the process of industrialization and modernization in China,energy plays an indispensable role.Large amounts of energy consumption,especially fossil energy consumption,has led to excessive emissions of carbon dioxide and sulfur dioxide,which have a significant impact on the whole world,such as global warming,sea-level rising,GDP reduction and so on.The current situation is that China has become the world's largest energy producer and energy consumer.What's more,China became the world's largest carbon dioxide emitter with the emissions over a million in2007.Therefore,carbon emissions and sulfur emissions reduction has become a urgent and vital problem for China to solve,and it's also a hot topic that scholars have been focusing on.Firstly,this paper analyzes the correlation between energy price and energy market by using the random matrix theory with the data of the coal and oil consumer prices in Shanxi province and the whole country respectively.Secondly,the relations among different energies have been studied by regression analysis to calculate the self and cross price elasticity and to analyze the complementary or substitutive relation between different energy sources by using the consumer price and consumption of coal and oil with the period from January 2014 to October 2015 in the whole country.Finally,this paper establishes the model of the relative price of energy-the emissions of carbon and sulfur,analyzes the dynamic evolution of the relative price with different price ranges and simulates the effect of the relative price on carbon andsulfur emissions reduction.The research on the correlation of energy price and relative price have a significant effect on consumption structure optimization and carbon/sulfur emission reduction.In addition,a reasonable relative price is beneficial to carbon/sulfur emissions and environmental quality improvement.The research results are conductive to better understand the market dynamic and provide the theoretical basis for government regulation strategies.