Solar Energy News Daily

Even the Have’s Have Naught

February 1st, 2011 by www.solarenergynewsdaily.com

In what should sound as an alarm to those who see fossil fuels as an integral part of their livelihood well into the foreseeable future, Saudi Arabia, the world’s leading oil exporter, is now worried about supplying its own oil consumption habits, not to mention the rest of the world. As a result, Saudi Arabian officials are working out plans to reduce their dependency on fossil fuels and make better use of alternative sources of energy. This is following recent estimates that in just 20 years, Saudi Arabia will need to majority of its oil supply to satisfy its domestic demand. As it stands, Saudi Arabia uses approximately 40 of the oil it produces, exporting the remaining 60. Were trends to hold and oil continue to be produced at the same output, based on 2031 figures, Saudi Arabia would only be producing enough oil to sustain itself under current operating patterns, with little to no oil left to export.Accordingly, solar power will provide more immediate relief as the country works to ready itself for nuclear power. Following the plan, developing nuclear energy should come within the decade, while solar relief is much more readily available. Saudi Arabia’s unique topography and landscape makes it a very unique locale on the global energy map. Though blessed with more than its share of extensive oil reserves, the desert nation faces its share of challenges in regards to providing fresh water and electricity to its residents, particularly considering the dearth of natural water resources, often put to use towards both ends. Whether solar and nuclear resources come to fruition, the era of oil excess for Saudi Arabia is likely nearing its final stages. The vast disparity between prices abroad and at home for Saudi Arabians should begin to dwindle in the coming decades, as producers still look to turn a profit and try to curb local demand by raising prices.

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