ENERGY AND RENEWABLE ENERGY SOURCES

Abstract

Stochastic, that is to say, the uncontrollable varying of oil prices on the world market, is the cause of considerable concern not only to energy engineers but also of common people. The reason is as simple as that: the price rise per oil barrel on the world market affects the increasing cost of living for all of us. Recently, we have witnessed the rocketing oil price which had no sooner risen to 160 US $ per barrel, when in only a several days it fell to 50 US $.