Saudi Arabia faces a dilemma with the prices on oil barrels falling lower and lower every day. With this drop in prices comes a painful downfall in the economy of that region, as they depend upon oil exports to support the country. However, there remains several other options that Saudi Arabia could exploit (one being alternative energy) in order to pick themselves back up economically.
The Power of Wind
Saudi Arabia could start to decrease their independence upon oil for their economy and start to increase their economic powers with the usage of wind power. As Saudi Arabia is a very windy country, the nation could harness the power of the weather and begin to decrease its reliance on fossil fueled resources (for both its own energy and for its economic exports).
A recent article in Thermal Science found that wind technology can be a formidable component as an energy source in Saudi Arabia (Shaahid). Shaahid researched the effects and found that wind energy could start to take some of the load off of fossil fuels (in regards to energy itself for Saudi Arabia) and local investments in that energy source could stimulate the economy (Shaahid).
Saudi Arabia has to start to think about its future (in terms of economics and energy sources). As more and more countries make the push towards renewable energy and greener sources, Saudi Arabia should also start to make that push. By utilizing the power of the wind, Saudi Arabia can start to reduce its independence on fossil fuels as both its own energy source and as an economic export.
- Shaahid, Syed M. “Economic Perspective Of Hybrid Wind-Diesel Technology For Commercial Loads Of Dhahran, Saudi Arabia.” Thermal Science (2015): 167-178.