Clean Energy in Saudi Arabia

Developing Clean Energy in Saudi Arabia
Name
Institution
Table of Contents
Introduction………………………………………………………..3
Changing Oil Production and Consumption Trends………………..3
Golden Wing-GW, Saudi Arabia……………………………………6
Feasibility Analysis………………………………………………….6
Conclusion………………………………………………………….7
Bibliography…………………………………………………………9
Developing Clean Energy in Saudi Arabia
Introduction
Global warming, environmental pollution, and the exhaustion of the world’s natural resources are some of the most serious challenges of the 21st century. The industrial revolution wave that hit Europe in the 19th and 20th centuries encouraged high energy consumption rates in industries and in the transport sector. For over two centuries, the world’s oil and coal reserves have been under increasing pressure to satisfy increasing energy demand in various areas of the economy, following rapid technological inventions over this period. However, fossil fuels are non-renewable, and will soon run out. To avoid energy shortage in future, there is need to explore and exploit renewable energy sources. This research proposal discusses the potential of Saudi Arabia to develop a reliable renewable energy system and avoid its oil dependence. The realization of this goal will contribute toward environmental conservation, create a stable economy, reduce global warming and promote healthy living.
Changing Oil Production and Consumption Trends
It would be expected that oil producing countries, of which Saudi Arabia is the world’s leading exporter, can withstand any energy crisis. However, oil market analysts warn of potential peak oil crisis in light of global consumption trends against production rates. Thus, the world needs a long tern renewable energy plan to achieve oil independence. Like most major oil producing countries, Saudi Arabia has been experiencing a natural decline in oil production since over the years, and the Saudi government has recognized that its vast reserves of the “black gold” will not last forever, and has taken notice of the infinite potential of alternative energy sources. Other big consumers like India and China are buying surplus supply in the market to increase their strategic oil reserves. The theory of peak oil crisis speculates that oil production will reach its maximum potential due to the exhaustion of oil reserves, while demand continues to increase. This trend will result in a situation where demand for energy is more than its global supply. The figures below show the expected drop in oil and gas production and rise in demand for energy.
Figure 1
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 Source: geo.cornell.edu.
Figure 2
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Source: Marketoracle.co.uk
Another area of great concern is environmental pollution and its consequences, the most serious of which is global warming. The combustion of oil and coal products increases the amount of green gases in the atmosphere, which cause high temperatures and results in global warming. At the same time, carbon gases are a health risk that that pollutes water (acidic rain) and the air. This presents a big health hazard to marine life and human beings who breathe polluted air and drink acidic water.
In light of these developments, it is vital for countries to reduce their reliance on oil and coal products for energy. There is also a need to protect future generations against energy crises and unhealthy living conditions by preserving natural resources and curbing environmental pollution. To create a sustainable economy and avoid the consequences of peak oil crisis and environmental pollution, it is necessary to diversify into renewable energy sources like hydro-electric power, solar and wind energy. These energy sources are not only sustainable in the long term, but also environmental friendly and ideal for healthy living as they do not produce carbon gases.
Golden Wing (GW) of Saudi Arabia
Golden Wing is a Saudi-based energy company that specializes in the production of renewable energy. Established in the late eighties by an ambitious Saudi investor, Mr. Adel Khalid Kurdi, the company is based is headquartered in Jubail Industrial City, with...