Author Topic: Top Oil Producing Country to Switch to Renewable  (Read 63 times)

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Offline Genichiro

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Top Oil Producing Country to Switch to Renewable
« on: October 26, 2012, 21:18 »
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Saudi Arabia is the world's top producer of oil, extracting approximately 11.6 million barrels every day. The oil takes care of approximately two-thirds of the kingdom's own energy needs and is the lynchpin of the country's lucrative exports.

So how is the oil-rich country planning for its energy needs in the future? By focusing on renewable energy.

Full article here

This is pretty big news. To hear a country in the Middle East talk about switching to renewable sources is huge. If they put the money they made from oil into it, then we could see rapid development of renewable sources, as well. I agree, that this certainly will help to make the world a better place. Hopefully they will put a lot of money into it; enough to get the attention of clean energy scientists and developers from around the world. This is an opportunity, and I hope the world does not let it go to waste. I'm hopeful this move will lead to something spectacular in the years to come.

As a side note, I'm not so sure the US should be so proud of soon becoming the world's number one oil producer. Last I checked, American Oil Barons aren't looking to sink money into renewable resources anytime soon (they're actually spending millions fighting renewable energy).
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Offline Cirno

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Saudi Arabia going for renewable energy? There's something I thought I would never see. Well, hey, if they do it, that's great for them. Maybe other countries in the world will take notice and follow in their footsteps, since the US isn't doing a great job of leading the way.

Offline Genichiro

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Yeah, just imagine what would happen if the Koch Brothers suddenly funded renewable energy. Wouldn't that be something? It would be smart business for them, really. Invest in both energy sources, using the money from one to fund the next, then set it so that they can continue to make money off the energy market even after we transition away from fossil fuels. That's how I would look at it, if I was them.
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Offline Zen

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Actually, it makes a ton of sense. The less fossil fuel they use, the more they can export, the more money they make!
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Offline Genichiro

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Makes sense from that angle, too, actually. :grin:
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