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“We know that pumping oil out of the ground does not create many jobs. It does not foster an entrepreneurial spirit, nor does it sharpen critical faculties.”
Saudi Arabia’s Oil Minister Ali Al-Naimi
(Saudi Arabia are launching their biggest ever renewable energy installations)
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17 comments
 
So they're spending their oil billions, from us, on renewables. Like drug dealers who don't touch the merchandise.
 
I applaud the fact they are doing something.
 
Saudis, as much as people are loath to admit it, are in fact human beings. Equating all of them as drug dealers cynically making a buck off of their oil is pretty lame.
 
Well yes, +Chris Wood , they recognise that theirs is a finite product but also that they have a lot of solar energy available to them on a fairly stable basis and so are gearing up for the next generation of energy production. Seems a sensible move to me.
 
They may not have sharpened critical faculties in Saudi Arabia, but they do seem appreciate that one day the black stuff will stop coming out of the ground. They are also not short of sunshine!
 
+Chris Wood if they're the dealers I suppose it makes us the junkies. As far as I can see the more advances that are made into solar technology, the more affordable it gets for everybody else.
 
We are the junkies, and whilst they have the natural resource, and the money to do it then I'm glad they're on the case. Somebody has to be. 
 
If only massive amounts of energy could be captured from drizzle we'd be quids-in.
 
They also realise that it's not financially viable to keep hoping that they are sitting on more and more Oil. It's drying up in Saudi Arabia and the Saudi's Know it.
 
That may be true of Saudi oil, but it's not true in the North Sea or South Atlantic.
 
It's dawned on them that they use a huge quantity of oil domestically that they could sell for $100+ a barrel, they have quite a lot of sunshine and the cost of turning it into electricity is falling. Simple economics plus some nice chat about sharpening critical faculties.
 
When they buy battery switching electric cars from Israel, then you'll know the world has truly turned a corner. +Better Place
John E
 
They'll just replace the oil pipelines with undersea electric cables and carry on charging us for energy just like always :/
 
How much clearer a signal could the world get when Saudi is investing huge amounts into a secure energy source for the future...
 
+John E That's how it should work, countries profiting from their natural resources :) There are energy losses when sending electricity long distances though, so there is still incentive to produce locally.
 
Not to mention the incentives of keeping people in employment locally .
John E
 
+Ben Wolstenholme Would you care about a 20% energy loss though if your net cost of producing the energy was 0?
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