{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,2,15]],"date-time":"2026-02-15T20:52:43Z","timestamp":1771188763281,"version":"3.50.1"},"reference-count":34,"publisher":"Public Library of Science (PLoS)","issue":"1","license":[{"start":{"date-parts":[[2025,1,21]],"date-time":"2025-01-21T00:00:00Z","timestamp":1737417600000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":["www.plosone.org"],"crossmark-restriction":false},"short-container-title":["PLoS ONE"],"abstract":"<jats:p>Even though the effect of oil price shocks on macroeconomics has been extensively investigated, the literature on how efficiency in household energy use affect crude oil price volatility is yet explored. This study unveils whether household energy efficiency lower crude oil price volatility asymmetrically in the United States using the historical and forecast dataset that spans from 1970:Q1-2040:Q1. Applying the multivariate case of Quantile-on-Quantile Regression, the empirical results show that household energy efficiency dampens crude oil price volatility with a stronger connection in quantiles before the median quantiles of crude oil price volatility. However, the effect of household energy efficiency decreases with an increase across quantiles of the crude oil price volatility. The results further show that energy-related CO<jats:sub>2<\/jats:sub> emissions and retail electricity price intensify crude oil price volatility with varying effects across quantiles. These findings are similar to the sensitivity analysis and robustness checks. Overall, the policy implication of our findings is that government and policymakers need to demonstrate unequivocal commitments to improving not only energy-efficient practices at household level but also to mitigate energy-related environmental disasters.<\/jats:p>","DOI":"10.1371\/journal.pone.0307840","type":"journal-article","created":{"date-parts":[[2025,1,21]],"date-time":"2025-01-21T18:25:13Z","timestamp":1737483913000},"page":"e0307840","update-policy":"https:\/\/doi.org\/10.1371\/journal.pone.corrections_policy","source":"Crossref","is-referenced-by-count":6,"title":["Can household energy efficiency dampen crude oil price volatility in the United States?"],"prefix":"10.1371","volume":"20","author":[{"given":"Ojonugwa","family":"Usman","sequence":"first","affiliation":[]},{"given":"Oktay","family":"Ozkan","sequence":"additional","affiliation":[]},{"given":"Chinazaekpere","family":"Nwani","sequence":"additional","affiliation":[]},{"given":"Festus Victor","family":"Bekun","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0001-5355-3707","authenticated-orcid":true,"given":"Andrew Adewale","family":"Alola","sequence":"additional","affiliation":[]}],"member":"340","published-online":{"date-parts":[[2025,1,21]]},"reference":[{"key":"pone.0307840.ref001","doi-asserted-by":"crossref","first-page":"104743","DOI":"10.1016\/j.eneco.2020.104743","article-title":"Economic determinants of oil futures volatility: A term structure perspective","volume":"88","author":"B. Kang","year":"2020","journal-title":"Energy Economics"},{"key":"pone.0307840.ref002","doi-asserted-by":"crossref","first-page":"103031","DOI":"10.1016\/j.resourpol.2022.103031","article-title":"Exploring the influence of the main factors on the crude oil price volatility: An analysis based on GARCH-MIDAS model with Lasso approach","volume":"79","author":"J. Zhao","year":"2022","journal-title":"Resources Policy"},{"key":"pone.0307840.ref003","doi-asserted-by":"crossref","first-page":"102977","DOI":"10.1016\/j.resourpol.2022.102977","article-title":"Nexus between oil price volatility and inflation: Mediating nexus from exchange rate","volume":"79","author":"Y. Zhang","year":"2022","journal-title":"Resources Policy"},{"key":"pone.0307840.ref004","doi-asserted-by":"crossref","first-page":"106613","DOI":"10.1016\/j.eneco.2023.106613","article-title":"Examining crude oil price outlook amidst substitute prices and household energy expenditures in the USA: A novel nonparametric multivariate QQR approach.","author":"A. A. Alola","year":"2023","journal-title":"Energy Economics"},{"key":"pone.0307840.ref005","volume-title":"Use of energy explained Energy use in homes, The U.S","author":"EIA","year":"2023"},{"issue":"1","key":"pone.0307840.ref006","doi-asserted-by":"crossref","first-page":"1382","DOI":"10.1038\/s41598-023-28368-8","article-title":"Household energy-saving behavior, its consumption, and life satisfaction in 37 countries","volume":"13","author":"X. Piao","year":"2023","journal-title":"Scientific reports"},{"key":"pone.0307840.ref007","doi-asserted-by":"crossref","first-page":"102982","DOI":"10.1016\/j.resourpol.2022.102982","article-title":"Testing the fluctuations of oil resource price volatility: a hurdle for economic recovery","volume":"79","author":"X. Xiuzhen","year":"2022","journal-title":"Resources Policy"},{"key":"pone.0307840.ref008","doi-asserted-by":"crossref","first-page":"838307","DOI":"10.3389\/fenrg.2021.838307","article-title":"Integrating the Role of Green Fiscal Policies With Energy Prices Volatility and Energy Efficiency: Presenting a COVID-19 Perspective.","volume":"9","author":"Q. Yin","year":"2022","journal-title":"Frontiers in Energy Research"},{"key":"pone.0307840.ref009","first-page":"1","article-title":"Impacts of oil price uncertainty on energy efficiency, economy, and environment of Malaysia: stochastic approach and CGE model","volume":"14","author":"H. Sun","year":"2021","journal-title":"Energy Efficiency"},{"key":"pone.0307840.ref010","doi-asserted-by":"crossref","first-page":"102863","DOI":"10.1016\/j.resourpol.2022.102863","article-title":"The impact of economic and non-economic determinants on the natural resources commodity prices volatility","volume":"78","author":"F. Chien","year":"2022","journal-title":"China. Resources Policy"},{"key":"pone.0307840.ref011","doi-asserted-by":"crossref","first-page":"103681","DOI":"10.1016\/j.resourpol.2023.103681","article-title":"Dynamic volatility spillovers and investment strategies between crude oil, new energy, and resource related sectors","volume":"83","author":"Z. Dai","year":"2023","journal-title":"Resources Policy"},{"issue":"1","key":"pone.0307840.ref012","doi-asserted-by":"crossref","first-page":"57","DOI":"10.1016\/j.ijforecast.2011.02.006","article-title":"Better to give than to receive: Predictive directional measurement of volatility spillovers.","volume":"28","author":"F. X. Diebold","year":"2012","journal-title":"International Journal of forecasting,"},{"issue":"1","key":"pone.0307840.ref013","doi-asserted-by":"crossref","first-page":"119","DOI":"10.1016\/j.jeconom.2014.04.012","article-title":"On the network topology of variance decompositions: Measuring the connectedness of financial firms","volume":"182","author":"F. X. Diebold","year":"2014","journal-title":"Journal of econometrics"},{"key":"pone.0307840.ref014","first-page":"60","article-title":"The linkages between energy efficiency and security of energy supply in Europe.","author":"A. Bigano","year":"2011","journal-title":"Handbook of sustainable energy"},{"key":"pone.0307840.ref015","first-page":"1","article-title":"Oil prices, US stock return, and the dependence between their quantiles. Journal of Banking &","volume":"55","author":"N. Sim","year":"2015","journal-title":"Finance"},{"key":"pone.0307840.ref016","doi-asserted-by":"crossref","first-page":"107021","DOI":"10.1016\/j.eneco.2023.107021","article-title":"Green financing of renewable energy generation: Capturing the role of exogenous moderation for ensuring sustainable development","volume":"126","author":"A. Sinha","year":"2023","journal-title":"Energy Economics"},{"key":"pone.0307840.ref017","doi-asserted-by":"crossref","first-page":"120623","DOI":"10.1016\/j.renene.2024.120623","article-title":"Navigating the Winds of Change: Assessing the Impact of Wind Energy Innovations and Fossil Energy Efficiency on Carbon Emissions in China.","author":"O. Ozkan","year":"2024","journal-title":"Renewable Energy"},{"key":"pone.0307840.ref018","article-title":"Assessing the influence of climate risk, carbon allowances, and technological factors on the ESG market in the European union.","author":"U. K. Pata","year":"2024","journal-title":"Borsa Istanbul Review"},{"key":"pone.0307840.ref019","doi-asserted-by":"crossref","first-page":"142070","DOI":"10.1016\/j.jclepro.2024.142070","article-title":"Global evidence of multi-dimensional asymmetric effect of energy storage innovations on environmental quality: Delineating the role of natural resources, nuclear energy and oil consumption","volume":"451","author":"O. Usman","year":"2024","journal-title":"Journal of Cleaner Production"},{"issue":"1","key":"pone.0307840.ref020","doi-asserted-by":"crossref","first-page":"11","DOI":"10.2307\/2534361","article-title":"Stabilization policy and private economic behavior","volume":"1978","author":"M. N. Baily","year":"1978","journal-title":"Brookings Papers on Economic Activity"},{"key":"pone.0307840.ref021","article-title":"Commodity prices as a leading indicator of inflation","volume":"2750","author":"J. M. Boughton","year":"1988","journal-title":"NBER working paper"},{"issue":"3","key":"pone.0307840.ref022","article-title":"The commodity-consumer price connection: fact or fable?","volume":"1","author":"S. B. Blomberg","year":"1995","journal-title":"Economic Policy Review"},{"issue":"1","key":"pone.0307840.ref023","doi-asserted-by":"crossref","first-page":"85","DOI":"10.2307\/1885568","article-title":"Irreversibility, uncertainty, and cyclical investment","volume":"98","author":"B. S. Bernanke","year":"1983","journal-title":"The quarterly journal of economics"},{"issue":"1","key":"pone.0307840.ref024","doi-asserted-by":"crossref","first-page":"85","DOI":"10.2307\/1884643","article-title":"Supply shocks and price adjustment in the world oil market","volume":"101","author":"R. G. Hubbard","year":"1986","journal-title":"The Quarterly Journal of Economics"},{"issue":"3","key":"pone.0307840.ref025","doi-asserted-by":"crossref","first-page":"255","DOI":"10.1016\/0165-1765(80)90024-5","article-title":"Efficient tests for normality, homoscedasticity and serial independence of regression residuals","volume":"6","author":"C. M. Jarque","year":"1980","journal-title":"Economics Letters"},{"issue":"2","key":"pone.0307840.ref026","doi-asserted-by":"crossref","DOI":"10.1016\/j.heliyon.2024.e24636","article-title":"Evaluating the role of financial globalization and oil consumption on ecological quality: A new perspective from quantile-on-quantile granger causality.","volume":"10","author":"T. S. Adebayo","year":"2024","journal-title":"Heliyon"},{"issue":"3","key":"pone.0307840.ref027","doi-asserted-by":"crossref","first-page":"197","DOI":"10.1080\/07474939608800353","article-title":"A test for independence based on the correlation dimension","volume":"15","author":"W. A. Broock","year":"1996","journal-title":"Econometric Reviews"},{"key":"pone.0307840.ref028","doi-asserted-by":"crossref","first-page":"105576","DOI":"10.1016\/j.econmod.2021.105576","article-title":"Role of global, regional, and advanced market economic policy uncertainty on bond spreads in emerging markets","volume":"102","author":"M. Balcilar","year":"2021","journal-title":"Economic Modelling"},{"key":"pone.0307840.ref029","article-title":"Nonfossil sources accounted for 20% of U.S. energy consumption in 2019,","author":"EIA","year":"2023"},{"key":"pone.0307840.ref030","doi-asserted-by":"crossref","first-page":"135208","DOI":"10.1016\/j.scitotenv.2019.135208","article-title":"Testing the role of oil production in the environmental Kuznets curve of oil producing countries: New insights from Method of Moments Quantile Regression","volume":"711","author":"G. N. Ike","year":"2020","journal-title":"Science of the Total Environment"},{"issue":"5","key":"pone.0307840.ref031","doi-asserted-by":"crossref","first-page":"905","DOI":"10.1080\/09640568.2020.1791058","article-title":"Toward sustainable electricity consumption in Brazil: The role of economic growth, globalization and ecological footprint using nonlinear ARDL approach","volume":"64","author":"A. A. Rafindadi","year":"2021","journal-title":"Journal of Environmental Planning and Management"},{"issue":"2","key":"pone.0307840.ref032","doi-asserted-by":"crossref","first-page":"356","DOI":"10.1108\/JES-07-2017-0198","article-title":"Impact of fossil fuel prices on electricity prices","volume":"46","author":"B. Bernal","year":"2019","journal-title":"Mexico. Journal of Economic Studies"},{"issue":"3","key":"pone.0307840.ref033","doi-asserted-by":"crossref","first-page":"503","DOI":"10.1016\/j.eneco.2009.02.001","article-title":"Electricity prices and fuel costs: Long-run relations and short-run dynamics","volume":"31","author":"H. Mohammadi","year":"2009","journal-title":"Energy Economics"},{"issue":"2","key":"pone.0307840.ref034","doi-asserted-by":"crossref","first-page":"143","DOI":"10.1093\/pan\/mpt019","article-title":"Kernel Regularized Least Squares: Reducing Misspecification Bias with a Flexible and Interpretable Machine Learning Approach.","volume":"22","author":"J. Hainmueller","year":"2014","journal-title":"Political Analysis"}],"container-title":["PLOS ONE"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0307840","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,1,21]],"date-time":"2025-01-21T18:25:29Z","timestamp":1737483929000},"score":1,"resource":{"primary":{"URL":"https:\/\/dx.plos.org\/10.1371\/journal.pone.0307840"}},"subtitle":[],"editor":[{"given":"Ata","family":"Assaf","sequence":"first","affiliation":[]}],"short-title":[],"issued":{"date-parts":[[2025,1,21]]},"references-count":34,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2025,1,21]]}},"URL":"https:\/\/doi.org\/10.1371\/journal.pone.0307840","relation":{},"ISSN":["1932-6203"],"issn-type":[{"value":"1932-6203","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,1,21]]}}}