Featured in Approaching the peak – 04-2013

The solar catalyst

Saudi Arabia: One of the world’s largest producers of petroleum products is taking a sharp turn from fossil fuels to the sun. The need to cut back on conventional fuel dependence and to bank in on the sun has fueled forecasts that Saudi Arabia will be the solar market to look out for in the year to come.
By
Shamsiah Ali Oettinger

The Middle East heavyweight’s fixed place in the global oil market is under threat due to unrestricted domestic fuel consumption driven by low energy prices. Over 80% of Saudi Arabian government spending is dependent on its black gold. Reports state that with a growing domestic energy demand of around 7% per year, national consumption is …

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