Gulf Oil States move to include alternative energy
Although there is no shortage of oil here, the United Arab Emirates, Qatar and Saudi Arabia have announced long-term investments in green and alternative energy that are expected to boost the development of emerging technologies worldwide. Billions of dollars are being invested both locally and globally in research and development. Included are a futuristic zero-carbon city of Masdar being built outside Abu Dhabi and a solar research center at the new King Abdullah University of Science and Technology in Saudi Arabia. The pragmatic goal is to maintain the Gulf States’ preeminence in global energy supplies and the acknowledgement that fossil fuel reserves are finite.
From NY Times - 1/13/09