Are Oil Rich Nations Serious About Preparing for a Green Future?
More and more people are beginning to adopt eco-friendly practices, putting oil-rich countries in a difficult situation. So what is their stance on abandoning oil and going green?
There are two unassailable truths regarding global warming. First, anthropogenic climate change is happening. Second, it will get much worse. Thus, to avoid catastrophic climate change, governments and businesses must make sustainable changes. But how willing are they to become eco-friendly?
Take the oil-rich Gulf states, for example. Do the UAE, Qatar, or Saudi Arabia really want the world to move away from oil and adopt renewable energies? Probably not, since they are the world's leading oil producers and exporters. However, they are still realistic and realize that more and more people are beginning to lean towards renewable energies instead of fossil fuels. Thus, if they do not follow this trend on time, all of their oil will become useless.
How Oil-Producing Countries Can Prepare for Changes
To make up for the upcoming losses in oil revenues, these nations have turned to their tourism sectors. The Dubai International Airport has always been packed, and Abu Dhabi is a regular host of global sporting events such as Ultimate Fighting Championship (UFC) shows. Qatar is also set to host the 2022 FIFA Men’s World Cup. Saudi Arabia has always been a hot tourist spot thanks to Mecca, but its government has gone to great lengths to increase the attractiveness of Riyadh and Jeddah as well. Of course, international tourism is also a major greenhouse gas emitter, which may cause problems in the future.
Other oil-rich nations, such as the US, Canada, and Russia, are looking for ways to reinvigorate their manufacturing sectors with green technology as well. If successful, developing nations such as India should adopt such techniques since it still uses coal, the dirtiest fossil fuel. These oil-producing countries could also try maximizing profits before oil alternatives take over completely. They can even use climate-compatible hydrocarbons, which involve switching from oil to gas. This is another sustainable solution since gas emits 25% less carbon dioxide than oil.
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