The Middle east came into existence after oil was discovered and will cease to exist after oil will finish or become irrelevant. After that there will be middle east sea in that region.
They know they have a limited time on their oil profits. They are trying to invest in the future. Create a lot of passive income. Buying real estate. Investing in companies and what not. They know that if/when their wealth diminishes the will be overrun by their own people.
Bullshit question.
Humanity will transition away from oil to renewables and batteries long before we deplete the oil in the ground.
Sovereign Wealth Funds
They would literally bomb the region after extracting the last drop. They only tolerate their existence because of the oil and money.
Of all the Gulf countries it seems like only the leaders of the UAE has sensible logic on how to prepare their nation moving forward. UAE bult the region’s biggest solar plant and battery storage facility to date. And they’ve been experimenting with tourism and being a stash for foreign money – Dubai earns practically no income from oil. Abu Dhabi is still extremely dependent on oil but it looks like they’re trying to replicate Dubai’s diversifying attempt there.
Peak oil is not about “running out”. There will always be more oil, but it will be more and more expensive to extract. Peak oil is when electrification and renewables peak the demand for oil.
Although I am tempted to believe in a gradual transition to decarbonization, there’s little evidence yet of a decrease in demand for fossil fuels. Maybe more realistic would be that the rate of increase would slow? The sudden demand for power to run AI data centers will be a problem for decarbonization. And, at least for now, the US will not be decarbonizing. India buys a lot of oil from Russia and the Gulf. I sincerely doubt that a transition to renewables will happen in two years (although renewables will increase).
“My grandfather rode a camel, my father rode a camel, I ride a Mercedes, my son rides a Land Rover, and my grandson is going to ride a Land Rover…but my great-grandson is going to have to ride a camel again.”
Sheik Rashid Makhtoum, Founder of Dubai – 1986
“The Stone Age came to an end not for a lack of stones, and the Oil Age will end, but not for a lack of oil.” – “Sheik” Yamani
Do people actually spend 10 minutes of their time on each of these videos posted by random youtubers?
Oil will not become worthless, but it will be worth less. It’s extremely important in plastics, fertilizer and other fields, so much so that burning it is pretty stupid
But what will happen is that the price of a barrel of oil will become as relevant to our everyday life as the price of a bale of hay is now
They’re going to deal with a confluence of challenges. CO2 levels reached 430 ppm in May. Why does this matter? The heating of the oceans around the area will drive humidity and “wet bulb” temperatures past dangerous levels and into “incompatible with human life” levels. The accessible oil reserves of the region contain most of the area’s wealth. Most of the population of the area have no access to that wealth.
It’s not too hard to see that our world economy won’t manage to reduce fossil fuel emissions quickly enough to avoid catastrophic impacts in the tropics. I heard someone one explain our dilemma this way, “the fossil fuels industry has sufficient proven reserves to, once burned, wipe out vertebrate life on earth”. That is the eventual outcome of this civilization.
There MAY come a point when the catastrophic impacts of fossil fuels become so severe that one or more still functional nations will have enough and resort to violence to prevent further fossil fuel production. That would be catastrophic to much of the Middle East as well.
Looking forward at that future, the only human societies likely to survive will be those that are more than 40° latitude away from the equator and more than 60 meters above current sea level.
So, no, the Middle East won’t be done in by the exhaustion of their oil fields. They’ll be done in by mass casualty heat events and storms.
With renewable energy push, there is hope it may never run out
I don’t think people completely understand how oil works. I say that because there were wells that were completely dry. That came back to be productive.
It will revert to being the worlds backwater.
Generally they are positioned to have extremly cheap electricity through solar+Batteries.
But still, they will have to adjust to a more normal lifestyle.
16 comments
The Middle east came into existence after oil was discovered and will cease to exist after oil will finish or become irrelevant. After that there will be middle east sea in that region.
They know they have a limited time on their oil profits. They are trying to invest in the future. Create a lot of passive income. Buying real estate. Investing in companies and what not. They know that if/when their wealth diminishes the will be overrun by their own people.
Bullshit question.
Humanity will transition away from oil to renewables and batteries long before we deplete the oil in the ground.
Sovereign Wealth Funds
They would literally bomb the region after extracting the last drop. They only tolerate their existence because of the oil and money.
Of all the Gulf countries it seems like only the leaders of the UAE has sensible logic on how to prepare their nation moving forward. UAE bult the region’s biggest solar plant and battery storage facility to date. And they’ve been experimenting with tourism and being a stash for foreign money – Dubai earns practically no income from oil. Abu Dhabi is still extremely dependent on oil but it looks like they’re trying to replicate Dubai’s diversifying attempt there.
Peak oil is not about “running out”. There will always be more oil, but it will be more and more expensive to extract. Peak oil is when electrification and renewables peak the demand for oil.
Although I am tempted to believe in a gradual transition to decarbonization, there’s little evidence yet of a decrease in demand for fossil fuels. Maybe more realistic would be that the rate of increase would slow? The sudden demand for power to run AI data centers will be a problem for decarbonization. And, at least for now, the US will not be decarbonizing. India buys a lot of oil from Russia and the Gulf. I sincerely doubt that a transition to renewables will happen in two years (although renewables will increase).
“My grandfather rode a camel, my father rode a camel, I ride a Mercedes, my son rides a Land Rover, and my grandson is going to ride a Land Rover…but my great-grandson is going to have to ride a camel again.”
Sheik Rashid Makhtoum, Founder of Dubai – 1986
“The Stone Age came to an end not for a lack of stones, and the Oil Age will end, but not for a lack of oil.” – “Sheik” Yamani
Do people actually spend 10 minutes of their time on each of these videos posted by random youtubers?
Oil will not become worthless, but it will be worth less. It’s extremely important in plastics, fertilizer and other fields, so much so that burning it is pretty stupid
But what will happen is that the price of a barrel of oil will become as relevant to our everyday life as the price of a bale of hay is now
They’re going to deal with a confluence of challenges. CO2 levels reached 430 ppm in May. Why does this matter? The heating of the oceans around the area will drive humidity and “wet bulb” temperatures past dangerous levels and into “incompatible with human life” levels. The accessible oil reserves of the region contain most of the area’s wealth. Most of the population of the area have no access to that wealth.
It’s not too hard to see that our world economy won’t manage to reduce fossil fuel emissions quickly enough to avoid catastrophic impacts in the tropics. I heard someone one explain our dilemma this way, “the fossil fuels industry has sufficient proven reserves to, once burned, wipe out vertebrate life on earth”. That is the eventual outcome of this civilization.
There MAY come a point when the catastrophic impacts of fossil fuels become so severe that one or more still functional nations will have enough and resort to violence to prevent further fossil fuel production. That would be catastrophic to much of the Middle East as well.
Looking forward at that future, the only human societies likely to survive will be those that are more than 40° latitude away from the equator and more than 60 meters above current sea level.
So, no, the Middle East won’t be done in by the exhaustion of their oil fields. They’ll be done in by mass casualty heat events and storms.
With renewable energy push, there is hope it may never run out
I don’t think people completely understand how oil works. I say that because there were wells that were completely dry. That came back to be productive.
It will revert to being the worlds backwater.
Generally they are positioned to have extremly cheap electricity through solar+Batteries.
But still, they will have to adjust to a more normal lifestyle.
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