Abstract
This paper examines the casual relationship between oil prices, renewable energy, carbon dioxide emissions and economic growth for the OECD countries over the period 1990-2015. By performing panel cointegration models, we found strong evidence of a negative and significant long-run relationship between oil prices, renewable energy and CO2 emissions. Findings indicate also that there is a quadratic long run relationship between CO2 emissions and economic growth, confirming the existence of an Environmental Kuznets Curve (EKC) for OECD countries. The Granger-causality results indicate bidirectional causality between CO2 emissions and oil prices in both short and longrun. This paper supports the view that an increase of oil prices decreases CO2 emissions in OECD countries.