Wind and solar are now cheaper than fossil fuels
For years, grid parity – the time when solar and wind would be cost-competitive with fossil fuels and nuclear – was the holy grail of renewables energy, a target to reach in a distant...
Tagged: Saudi Arabia
How the Middle East is turning to the sun for energy
When one thinks of the Middle East nowadays, oil comes to mind. But with solar photovoltaic booming right now all around the region and beyond, this might not be the case in twenty or thirty years.
Saudi Arabia is planning its fossil fuels’ exit by 2050
While the G7 Nations are thinking about whining themselves off fossil fuels by the end of the century and while some – most ? – oil companies are not really diversifying themselves, Saudi Arabia is...
Oil prices are going down. Wait, what ?
This was my reaction when I saw oil prices drop recently to levels below $90. Not long ago they were indeed more around $110 than anything else. Lucky for us Thomas L Friedman from...
Saudi Arabia to go 100 percent low carbon
I already had mentioned very ambitious plans from Saudi Arabia to jump-start a solar revolution. So the following news aren’t totally surprising me. As The Guardian reported : ” Saudi Arabia, the world’s biggest...
Could Saudi Arabia import oil by 2030 ?
Saudi Arabia is the world’s largest oil producer with ten million barrels out of the 89 million consumed each day on Planet Earth. The consequences of this country having to import oil would be...
Saudi Arabia to invest massively in cleantech
Yes, you read that right : the oil superpower is willing to tap into its significant solar potential by installing no less than 41 gigawatts of solar capacity by 2032. The project is estimated...
Oil : the headlong rush
In French, we have an expression, ” la fuite en avant “ which can be explained this way : “A fuite en avant is something one does when one is in a losing situation,...
Saudi Arabia overstated its oil reserves by 40%
To the Guardian : ” The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in show....
Can Iraq quadruple its oil production ?
According to an article from The Economist, Iraq has plans to quadruple its oil production by the next seven years. This would increase the production from the current 2.5 million barrels per day to...
Saudi Arabia’s oil production peaked in 2005
I was reporting last week that non-OPEC oil production peaked in 2004 and Russia – the world’s second largest exporter – peaked in 2008. The situation was already quite serious. Yesterday the Oil Drum...