Tuesday, April 23, 2013

The Days of Cheap Oil Are Over -- Abu Dhabi

Rigzone is reporting (the obvious):
The United Arab Emirates is planning to get up to 25% of its power from nuclear energy by 2021 as it looks to reduce its domestic reliance on fossil fuels and ensure it has enough oil to export as its economy expands, the country's new energy minister said Monday. 
"Nuclear energy is expected to account for between 20% to 25% of power production by 2021 through the operation of four nuclear power plants," ....
U.A.E. is also planning to up its production capacity to 3.5 million barrels per day by 2017 from around 3 million barrels per day, ....
..... while global oil demand will increase by one million barrels per day until it reaches 105 million barrels per by 2030.
Why don't they use solar power? UAE may not have enough desert for all the solar panels it would need, but the Saudi desert just to the west has more than enough area.  I'm sure a deal could be worked out.

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