The Middle east came into existence after oil was discovered and will cease to exist after oil will finish or become irrelevant. After that there will be middle east sea in that region.
SomeSamples on
They know they have a limited time on their oil profits. They are trying to invest in the future. Create a lot of passive income. Buying real estate. Investing in companies and what not. They know that if/when their wealth diminishes the will be overrun by their own people.
shaim2 on
Bullshit question.
Humanity will transition away from oil to renewables and batteries long before we deplete the oil in the ground.
MdCervantes on
Sovereign Wealth Funds
Illustrious_Crazy106 on
They would literally bomb the region after extracting the last drop. They only tolerate their existence because of the oil and money.
fufa_fafu on
Of all the Gulf countries it seems like only the leaders of the UAE has sensible logic on how to prepare their nation moving forward. UAE bult the region’s biggest solar plant and battery storage facility to date. And they’ve been experimenting with tourism and being a stash for foreign money – Dubai earns practically no income from oil. Abu Dhabi is still extremely dependent on oil but it looks like they’re trying to replicate Dubai’s diversifying attempt there.
ThMogget on
Peak oil is not about “running out”. There will always be more oil, but it will be more and more expensive to extract. Peak oil is when electrification and renewables peak the demand for oil.
Lord_Vesuvius2020 on
Although I am tempted to believe in a gradual transition to decarbonization, there’s little evidence yet of a decrease in demand for fossil fuels. Maybe more realistic would be that the rate of increase would slow? The sudden demand for power to run AI data centers will be a problem for decarbonization. And, at least for now, the US will not be decarbonizing. India buys a lot of oil from Russia and the Gulf. I sincerely doubt that a transition to renewables will happen in two years (although renewables will increase).
8 Comments
The Middle east came into existence after oil was discovered and will cease to exist after oil will finish or become irrelevant. After that there will be middle east sea in that region.
They know they have a limited time on their oil profits. They are trying to invest in the future. Create a lot of passive income. Buying real estate. Investing in companies and what not. They know that if/when their wealth diminishes the will be overrun by their own people.
Bullshit question.
Humanity will transition away from oil to renewables and batteries long before we deplete the oil in the ground.
Sovereign Wealth Funds
They would literally bomb the region after extracting the last drop. They only tolerate their existence because of the oil and money.
Of all the Gulf countries it seems like only the leaders of the UAE has sensible logic on how to prepare their nation moving forward. UAE bult the region’s biggest solar plant and battery storage facility to date. And they’ve been experimenting with tourism and being a stash for foreign money – Dubai earns practically no income from oil. Abu Dhabi is still extremely dependent on oil but it looks like they’re trying to replicate Dubai’s diversifying attempt there.
Peak oil is not about “running out”. There will always be more oil, but it will be more and more expensive to extract. Peak oil is when electrification and renewables peak the demand for oil.
Although I am tempted to believe in a gradual transition to decarbonization, there’s little evidence yet of a decrease in demand for fossil fuels. Maybe more realistic would be that the rate of increase would slow? The sudden demand for power to run AI data centers will be a problem for decarbonization. And, at least for now, the US will not be decarbonizing. India buys a lot of oil from Russia and the Gulf. I sincerely doubt that a transition to renewables will happen in two years (although renewables will increase).