Solar is going to smash the oil industry

When the Saudi oil minister says his country will switch to solar you know the jig is up for fossil fuels. Such a defining moment occurred in Paris this week when Reuters, the Financial Times and The Guardian all reported Minister Ali Al-Naimi as admitting the days of oil exports in his country were limited.

The comments were delivered to attendees of a climate and business conference where Naimi outlined a new direction for Saudi Arabian exports.

“In Saudi Arabia, we recognise that eventually, one of these days, we are not going to need fossil fuels, I don’t know when, in 2040, 2050… so we have embarked on a program to develop solar energy,” Ali Al-Naimi told the conference.

“Hopefully, one of these days, instead of exporting fossil fuels, we will be exporting gigawatts, electric ones,” he added.

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