International University of Travnik , Travnik , Bosnia and Herzegovina
The focus of this paper is on the energy policy issues related to oil and gas shortages, and the impact of investing in R&D and innovation on the growth of companies in the local energy sector. Following everyday life through the international public media, we see how the energy problem and control over it's sources is a critical political topic ; with a direct impact on daily lives attributed to the energy deficit in Europe, due to the European embargo of Russian hydrocarbons. A solution to the crisis that would lessen the severity of the situation is to focus on maximizing utilization of local resources by investing in existing companies in the energy sector. Therefore, the aim of the paper is to show how investments in research, development and innovation can contribute to the successful growth of companies in the energy sector in Bosnia and Herzegovina in order to achieve energy self sustainability and stability in The Balkans.
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