Like Selling Sand in the Desert

Like Selling Sand in the Desert

Especially after the decline in oil prices and the shift in global attention toward renewables occurred, the Arabic world realized the numerous benefits originating from solar power. This realization has subsequently been to major benefit for the region, as the United Arab Emirates has one of the highest energy demands in the world with a usage surpassing 7,5 ton raw oil per capita. Compared to European countries with an energy demand around 3 ton oil per capita, the UAE is well above.

Consequently, there was a need for a more environmentally friendly profile, a necessity that has been enhanced when Dubai was elected as host for the World EXPO 2021.

Additionally, it has become a widespread strategy in the Arabic world to save on oil resources for domestic consumption and instead export it to the world market given the low energy prices. In that way, by flooding the markets they have tried to maximize their own share of the income while being a central part the OPEC cartel.