Oil and Gas in the Capitals ///

The Saudis and their neighbors in the Gulf have caught the “green” bug. They have embarked on multi-billion-dollar solar power projects, to reduce the amount of oil burned in power plants, and divert these amounts from domestic consumption to exports. If these renewable projects do not deliver, Gulf nations may not export the oil needed to meet growing global oil demand. The whole world will pay the cost for this in higher oil prices. Failure of green projects is not new. They failed in Europe and the U.S.; they also failed in some Gulf countries in the early 1980s.

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