The impact of political emergencies on global oil price

Global Energy Internet has complex dynamic characteristics which are influenced by the international politics, economy and energy patterns and other factors. Political emergencies affect the trend of global oil price, which furthermore, influences global energy consumption and electric power distribution. This paper adopts econometric method to study the impact of political emergencies on global oil price. It describes the political emergencies with dummy variables and establishes the total intervention model with time series analysis method and intervention analysis method. Based on the proposed method, impact of political emergencies on global oil price is studied with typical cases such as Gulf War and 911 Event. This paper is aimed to guide the analysis of macroscopic characteristics of Global Energy Internet.