energy futures in the middle-east
Scarcity makes for economy, makes for politics, makes for geopolitical power, the world of energy plays the game mainstage these days and will continue to do so for a while.
Nevertheless, according to Exclusive-Analysis’ James Howarth over at OpenDemocracy.net, the Middle East is anticipating times at which oil might no longer be their main cashcow. In order to maintain their strategically powerful position in a world seeking oil/energy-independence, countries such as Saudi Arabia, the UAE etc. are diversifying their portfolios.
Aside from oil, a ‘gas OPEC‘ (an extended GECF) is already taking shape (cf. Iran, Russia, Qatar, Algeria cover 70% of the world’s gas reserves and 40% of output) but working along a different model of decisionmaking. Iran invests in nuclear power. Many would bet on solar energy to be the next big thing in countries with plenty of sun and desert, yet not all share that opinion/enthusiasm (see for example video on Energy Wars).
Not only on the production side, also on the consumption side the Middle East is changing . Although sitting on top of large reserves, the economic boom of for example the UAE, gives rise to ‘massive change’ projects such as Abu Dhabi’s $15bn Masdar, investing in building carbon neutral cities (e.g. Masdar city together with Foster+partners), the world’s largest hydrogen energy plant (a project together with BP), massive solar fields etc.
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