π Why are the GCC countries trying to go green?
It is worth noting that the GCC countriesβ economic visions all emphasize sustainability of economic development policies. This is because independently of any environmental concerns, the GCC economies have historically been dependent upon finite and depleting resources in the form of oil and gas, and so they were looking to establish a new development model that would not expire.
In fact, part of the drive toward renewable energies in the GCC has been a desire to decrease the rate at which they deplete their hydrocarbons, as burning domestically produced oil or natural gas has been the primary source of electricity in the GCC.
Switching to solar or wind energy offers the governments the option of either securing greater revenues by exporting more of their oil and gas, or simply slowing down the extraction rate so that future generations can enjoy a larger share of the fruits, writes Omar Al-Ubaydli, Economist at George Mason University, USA.
https://valdaiclub.com/a/highlights/why-are-the-gcc-countries-trying-to-go-green/
#Corporations_and_Economy #ecology #GCC
@valdai_club β The Valdai Discussion Club
It is worth noting that the GCC countriesβ economic visions all emphasize sustainability of economic development policies. This is because independently of any environmental concerns, the GCC economies have historically been dependent upon finite and depleting resources in the form of oil and gas, and so they were looking to establish a new development model that would not expire.
In fact, part of the drive toward renewable energies in the GCC has been a desire to decrease the rate at which they deplete their hydrocarbons, as burning domestically produced oil or natural gas has been the primary source of electricity in the GCC.
Switching to solar or wind energy offers the governments the option of either securing greater revenues by exporting more of their oil and gas, or simply slowing down the extraction rate so that future generations can enjoy a larger share of the fruits, writes Omar Al-Ubaydli, Economist at George Mason University, USA.
https://valdaiclub.com/a/highlights/why-are-the-gcc-countries-trying-to-go-green/
#Corporations_and_Economy #ecology #GCC
@valdai_club β The Valdai Discussion Club
Valdai Club
Why Are the GCC Countries Trying to Go Green?
ο»ΏAs perceptible evidence of climate change mounts, there is increasing pressure on all countries to adopt greener policies. The six countries of the Gulf Cooperation Council (GCC) are making an effort to be greener, but in response to a different set of factorsβ¦