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Page added on December 9, 2016
Vision 2030: The Blueprint for Life After Oil
Both Saudi Arabia and the UAE, two of the Middle East’s biggest powerhouses, are establishing a roadmap for economic development based on reduced reliance on oil. Top experts discussed what they see as the plan’s biggest challenges and opportunities with Bloomberg’s Riad Hamade at the Bloomberg Markets Most Influential Summit in Abu Dhabi on December 7. Panelists: Mohamed Alabbar, chairman, Emaar Properties; Bassem I. Awadallah, chief executive officer, Tomoh Advisory; and Waleed Al Mokarrab Al Muhairi, deputy group chief executive officer and chief executive officer, Emerging Sectors, Mubadala Development.
13 Comments on "Vision 2030: The Blueprint for Life After Oil"
joe on Fri, 9th Dec 2016 3:41 pm
In less than 15 years Saudi Arabia wont be relying on oil? Sure, theyll be relying on the world to pay them to let them pretend they didnt sell out. In 2030 Clintons/Trumps/Bush will all be memories the world will be suffering global warming and oil will be public enemy no1, Saudis will nothing but tour guides in Mecca begging the Pakistanis to give em a bomb so they can attack Israel.
Hubert on Fri, 9th Dec 2016 4:55 pm
They not just running out of oil. They are also running out of Water, and they have done very little to curb the growing population.
Midnight Oil on Fri, 9th Dec 2016 8:04 pm
Life after oil…depends on how one defines a “life”… Looking forward to banging a couple of rocks together and sleeping in a cave …
Hopefully with some clean sheets
pat on Sat, 10th Dec 2016 2:34 am
“They not just running out of oil. They are also running out of Water” it may happen much sooner than 2030, the effects may already start from 2020.
Cloggie on Sat, 10th Dec 2016 3:53 am
KSA has a totally undeveloped asset: their formerly useless desert they can use to setup endless solar parks to export electricity rather than oil. Export to Turkey and Egypt for starters.
KSA should aim at agreements with global solar panel companies to have local production facilities of solar panels in KSA and other Gulf states and create employment opportunities at home.
Davy on Sat, 10th Dec 2016 5:44 am
More techno optimism without the supporting science and the economics of that reality. KSA is in excessive overshoot of consumption and population located in a region that may soon be uninhabitable because of climate change. That in itself is a game ender without options. That is the first techno optimist failure of reason. The second is to think you can run an economy on the export of huge quantities of energy from alternatives. It is apparent KSA can’t run their current economy on cheap high quality fossil fuels so how are they going to do it with much lower EROI solar. It is not even clear a stable prosperous society like northern Europe can run on renewables let alone export them as their main source of trade.
This is the type of thinking that is fantasy and delusion the techno optimist excel at. The science is not there and the economics is not there. It is the combination of the grandiosity of the science and the disregard for economic realities that make techno optimist so delusional. Sure theoretically a huge amount of solar panels could be put up in KSA and exports of energy achieved but theory is not reality and here is where techno optimist are our modern day “Sirens” of ancient Greece.
oracle on Sat, 10th Dec 2016 7:14 am
Does anyone have a blueprint for life after oil?
onlooker on Sat, 10th Dec 2016 7:41 am
Yes all of these alternative renewable fantasies have been shot down via a reasoned detailed analysis. However what is the salient point is our persistence in not living within limits has now put us in a state of severe overshoot whereby Earth simply will not be able to support much of the current population. So unless we can move to another planet we have run out of techno fixes or postponing ploys. KSA is but one stark example but almost all places where humans congregate is severely overshooting it’s natural limitations
Sissyfuss on Sat, 10th Dec 2016 8:39 am
When the rising temperatures causing the desert regions to become uninhabitable combined with the rising sea levels, it sure is gonna get crowded on this rotating orb. Easter Island makes a comeback, sort of.
Cloggie on Sat, 10th Dec 2016 10:56 am
Does anyone have a blueprint for life after oil?
Sure:
http://energypost.eu/dutch-government-evs-hydrogen-cars-2035-phase-natural-gas/
EU target: largely phasing out fossil fuel by 2050.
Cloggie on Sat, 10th Dec 2016 12:54 pm
This is the type of thinking that is fantasy and delusion the techno optimist excel at. The science is not there and the economics is not there.
Let’s see…
https://www.theguardian.com/environment/2016/feb/04/morocco-to-switch-on-first-phase-of-worlds-largest-solar-plant
GDP (Wikipedia)
Morocco:
GDP (PPP) 2015 estimate
• Total $274.53 billion[5]
• Per capita $8,194[6]
GDP (nominal) 2015 estimate
• Total $103.08 billion[7]
• Per capita $3,077[8]
Saudi-Arabia
GDP (PPP) 2016 estimate
• Total $1.720 trillion[8] (14th)
• Per capita $55,780[8] (12th)
GDP (nominal) 2015 estimate
• Total $653.219 billion[8] (19th)
• Per capita $20,812[8] (38th)
We are talking about a difference in economy of a factor of 6, yet Morocco is able to build the largest solar park in the world and can now begin to generate revenue from it, but KSA mysteriously can’t.
onlooker on Sat, 10th Dec 2016 1:08 pm
Cloggie your estimates are just on the revenue side of the ledger. If you were to look at expenses that would help explain KSA problems.
Davy on Sat, 10th Dec 2016 1:14 pm
Cloggie, scale that up to the scenario of a primary economic driver of those economies along with feeding their people like your original boasting.