What the hell?

[Subdivisions]

Since when does Saudi Arabia give a shit about renewable energy? Why, they have all the oil in the world! In fact, they are our goto supplier when places get hit with hurricanes -- or airplanes full of fuel and people.

NOTE: My excerpt commentary in italics and emphasis in bold

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/middleeast/2007/July/middleeast_July331.xml§ion=middleeast&col=">Saudi Arabia to focus on renewable energy

JEDDAH — A multimillion-riyal world-class research centre for renewable energy has been set up at the Dhahran-based King Fahd University of Petroleum and Minerals (KFUPM).

The aim of the research centre is to help the country play the role of world energy leader for years to come. (Editorial: Um, I thought they had the most oil in the world and had enough to last forever?) The centre is currently working on resource mobilisation before its premier research activities kick off in a year’s time.

-snip-

The centre has already started working with the vision statement “Empower the Kingdom to continue as the world energy leader,” Rahman, who holds a doctorate degree from KFUPM, said there is evidence of ample interest in alternative fuels in Saudi Arabia, including the generation and use of hydrogen and solar energy as an alternative to fossil fuels. (Editorial: "continue as the world energy leader"??? By inference, couldn't one deduce that such a continuation is based on the imminent demise of their current status should they not take steps to preserve it?)

-snip-

The move to open this research centre is also significant in view of the fact that Saudi Arabia continues to face long-term economic challenges that put pressures on Saudi oil revenues. Hence, there is a need to diversify the economy and decrease reliance on oil, the earnings of which make up around 90-95 per cent of the total Saudi export earnings, 70-80 per cent of state revenues, and around 40 per cent of the country’s gross domestic product (GDP). (Editorial: CHALLENGES??? WHAT CHALLENGES???)

“The centre aspires to prepare the kingdom for the fast approaching hydrogen and methanol economies (Editorial: WHAT THE HELL? HYDROGEN??? FAST APPROACHING?????) and help harness its immense solar and wind potentials,” said Rahman.

-snip-

I don't know about ya'll, but I see that as one helluva sneaky way to break the news about oil depletion and Peak Oil as anything I've seen from *co.

We're in big, BIG trouble folks.

This explains EVERYTHING!

[cynatnite]

1. Could also be that they're worried about more people going green...

hybrids, alternative fuels and all that. It cuts into their profits plus if they're not the numero uno in oil, people won't pay as much attention to them.

[Rex]

2. They're in the business of making money off energy

would be a wise person that spent some of what they have on ways to make more money in the future on energy since they are in that business already.

As much as I despise monarchies; wanna be rich? Spend some to stay that way or else.

[Richard Steele]

3. The major oil-producers have the MOST reason to care about renewable energy.

"Peak Oil" is a reality. It's believed by many that the Saudis have
already hit the "maximum production" wall. That is, that drilling
more holes no longer produces more crude. Some have even offered
evidence that overall Saudi production may be DECLINING already.

They know that the price of crude is going nowhere but UP from
now on, and it's likely to be several times its current value
within a decade or two. Every dollar's worth of crude they conserve
next year will mean an extra TEN dollars in their pocket 30 years
from now.

With AltEnergy costs coming down, and oil going up, continuing to
power their nation with oil is tantamount to heating a house
by filling the fireplace with immature savings bonds.

[Subdivisions]

4. I wholeheartedly agree, dicksteele. My

emphasis and angle on this particular development is not meant to downplay the importance of developing renewable energy technologies nor do I oppose throwing massive amounts of capital into those programs. More power to 'em!

However, it's the covert nature of the Peak Oil issue, the cover up. Instead of just coming out and admitting we have problems that need addressing, they spoon-feed us this type of spin that makes you say "Hmmmm...".

Meanwhile, those of us who understand and who take the time to dig into the energy issue just as rabidly as DUers dig into the DC Madam's Phone Records are perceived as a bunch of loony doomers to be snickered at and then largely ignored.

[Richard Steele]

5. Well, they also know that the "MAXIMUM $$$ scenario" needs the rest of us to keep burning oil.

It's AGAINST their financial interests to let the
great unwashed masses know why they're doing what
they're doing. If we ALL start converting to AltEnergy,
their 30-year financial forecast falls right apart.

And ultimately, it always comes down to someone making money.

Heck, we're not in Iraq because we NEED the oil so much as
the people running the show want to keep making MONEY from oil.

If it was really about "energy need", we could have taken the
money spent occupying Iraq and spent it all on solar panels and
compact fluorescent light bulbs. That would have reduced our
energy needs to the point that Iraqi oil would be irrelevant.

But we didn't do that. Because it's not really about "oil", it's
about OIL PROFIT$. And those are currently the largest profits
ever seen in all of recorded human history.

Mi$$ion Accomplished!

[tech3149]

6. Why do you think Iran has been hard line on nuclear power?

They knew 20 years ago the cheap ride couldn't last forever. Even though they're sitting on a few buckets of oil, they wanted to prepare for the future. It's a shame we're not that smart. I don't buy into the nuclear option, but we should have been working on alternatives since the 70's.