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Bloomberg: Saudi Arabia intend to abandon oil

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Bloomberg: Saudi Arabia intend to abandon oil

Post by Admin on Thu Mar 17, 2016 10:14 pm

Saudi authorities intend to abandon oil as the main source of income and energy resource. Kingdom intends to focus on renewable energy sources. This was announced by Saudi Oil Minister Ali al-Naimi, quoted by Bloomberg.

"I do not think that there is a perfect country for renewable energy than Saudi Arabia", - said the minister. Al-Naimi explains the abundance of sunlight in the kingdom, a lot of unused areas, and an excess of sand. This is all that is needed for the construction of solar power plants.

Nevertheless, al-Naimi does not believe that the country in the next 50 years will be able to completely abandon oil.

"In the next 50 years, humanity will not give up the fuel, which, incidentally, is not so bad," - said al-Naimi.

Saudi Arabia is not the first time declares ambitious plans to diversify its economy and reduce dependence on oil exports. At the end of January 2016, Saudi Arabia has presented an ambitious plan "non-oil".

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