On October 2, AGSIW held its fifth annual Petro Diplomacy conference, exploring what measures the oil-producing states are adopting to manage the global transition to renewables and alternative energy sources and how this will impact demand for oil in the decades ahead.
The energy world is entering an era of disruption, where traditional methods of extracting, using, and trading energy are changing rapidly and where old rules no longer apply.
Countries that export larger quantities of low-sulfur crude oil will be the foremost beneficiaries of the demand brought on by IMO 2020, but the new regulations will not be a boon for everyone in the region.
For the Gulf Arab states, renewables could contribute to reducing greenhouse gas emissions while also supporting economic goals of meeting increasing domestic energy demand and creating jobs.
Iraq aims to grow its oil and gas production capacity to meet its domestic needs, but this will take time, a commodity the country can ill afford.
Climate Change and Economic Diversification in Saudi Arabia: Integrity, Challenges, and Opportunities
While Saudi Arabia’s long involvement in global climate change negotiations has attracted mounting attention, little is known about the kingdom’s climate change governance at the domestic level or its progress in terms of addressing climate change in line with economic diversification.
The Gulf is extremely vulnerable to climate change and the clock is ticking to keep the lights and air conditioners on without causing harm to their already fragile environment.
The energy system is undergoing a radical shift away from fossil fuels in a world where oil is no longer king. However, to meet demand growth, oil and gas will remain key components of the energy mix for decades to come.
To meet the dual challenge of energy security and climate change, the Gulf Arab states need a holistic understanding of energy systems when planning an advantageous energy mix.
Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.Learn More