Oil Rich Gulf States Focusing on Renewable Energy
The NYT notes in an article about the Gulf Oil states taking the lead in renewable energy that:
They are aggressively pouring billions of dollars made in the oil fields into new green technologies. They are establishing billion-dollar clean-technology investment funds. And they are putting millions of dollars behind research projects at universities from California to Boston to London, and setting up green research parks at home.
The crown prince of Abu Dhabi, the wealthiest of the seven emirates that make up the United Arab Emirates, announced last January that he would invest $15 billion in renewable energy. That is the same amount that President-elect Obama has proposed investing - in the entire United States - “to catalyze private sector efforts to build a clean energy future.”
[L]eaders in politics, business and research from across the globe will flock to [Abu Dhabi] for three days starting Monday for the second World Future Energy Summit, which just one year after its inception here has become something of a Davos gathering on renewable energy.
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