{"id":4766,"date":"2015-05-26T09:59:50","date_gmt":"2015-05-25T23:29:50","guid":{"rendered":"http:\/\/www.solarquotes.com.au\/blog\/?p=4766"},"modified":"2017-10-25T09:36:14","modified_gmt":"2017-10-24T23:06:14","slug":"here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\/","title":{"rendered":"Here comes the sun: Saudi oil minister flags end of fossil fuels"},"content":{"rendered":"
\"oil<\/a>

Solar is going to smash the oil industry<\/p><\/div>\n

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.<\/p>\n

The comments were delivered to attendees of a climate and business conference where Naimi outlined a new direction for Saudi Arabian exports.<\/p>\n

“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.<\/p>\n

“Hopefully, one of these days, instead of exporting fossil fuels, we will be exporting gigawatts, electric ones,” he added.<\/p><\/blockquote>\n

<\/p>\n

Now the minister wasn’t foreseeing the end of energy derived from fossil fuels just yet. However his admission that oil may be on the way out will have many fossil fuel acolytes and their elected mouthpieces worried. Is the minister advocating a solar-for-oil swap? Not just yet apparently though Naimi\u2019s comments seem to suggest this may be a medium-term aim for the oil-rich nation. In fact research shows that Saudi Arabia has been preparing for a \u201csolar rush\u201d for some time, developing their renewable energy industry in expectation of an oil slowdown.<\/p>\n

According to a study<\/a> by Canadian-based market research company TechSci Research<\/a>, Saudi Arabia is experiencing a big solar boom with solar power expected to contribute 41 GW of overall power capacity additions by 2032.<\/p>\n

This should make peak oil enthusiasts sit up and take notice. Are the Saudi moves away from fossil fuels a sign that peak oil is closer than we think? Or have we already reached the point of no return for maximum oil consumption? No-one would be in a better position to judge this that the Saudis who control the second largest of proven oil reserves in the world after Venezuela.<\/p>\n

Some may consider the oil minister\u2019s comments in Paris as an admission that oil\u2019s days are numbered as a viable export, that peak oil has occurred and this is the end for fossil fuel. However, perhaps most strikingly, Naimi went on to tell his audience that he didn\u2019t believe that the current low price of oil would affect solar power\u2019s viability.<\/p>\n

\u201cI believe solar will be even more economic than fossil fuels,\u201d he told the conference.<\/p><\/blockquote>\n

The Saudi oil minister\u2019s honest \u2014 and brutal \u2014 comments will not go down well in the fossil fuel boardrooms. If correct, Naimi\u2019s comments signify the end of fossil fuels as the dominant energy source in a shorter time frame than many have predicted. Dare we say: Here comes the Sun?<\/p>\n","protected":false},"excerpt":{"rendered":"

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. […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[561,397],"class_list":["post-4766","post","type-post","status-publish","format-standard","hentry","category-economics","tag-middle-east","tag-politics","entry"],"acf":[],"yoast_head":"\nHere comes the sun: Saudi oil minister flags end of fossil fuels - SolarQuotes Blog<\/title>\n<meta name=\"description\" content=\"When the Saudi oil minister says his country will switch to solar you know the jig is up for fossil fuels.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here comes the sun: Saudi oil minister flags end of fossil fuels\" \/>\n<meta property=\"og:description\" content=\"When the Saudi oil minister says his country will switch to solar you know the jig is up for fossil fuels.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-25T23:29:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-24T23:06:14+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2015\/05\/oil-on-panels.jpg\" \/>\n<meta name=\"author\" content=\"Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/\"},\"author\":{\"name\":\"Staff Writer\",\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/#\\\/schema\\\/person\\\/cdfada92425341cb1b48bf0bcfa1feb7\"},\"headline\":\"Here comes the sun: Saudi oil minister flags end of fossil fuels\",\"datePublished\":\"2015-05-25T23:29:50+00:00\",\"dateModified\":\"2017-10-24T23:06:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/\"},\"wordCount\":491,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/wp-content\\\/uploads\\\/2015\\\/05\\\/oil-on-panels.jpg\",\"keywords\":[\"middle east\",\"politics\"],\"articleSection\":[\"Economics Of Solar\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/\",\"url\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/here-comes-the-sun-saudi-oil-minister-flags-end-of-fossil-fuels\\\/\",\"name\":\"Here comes the sun: Saudi oil minister flags end of fossil fuels - 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For many, Saudi Arabia symbolises opulent oil wealth, a desert kingdom so awash in the black stuff that fortunes are measured\u2026","rel":"","context":"In "Big Solar"","block_context":{"text":"Big Solar","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/utility-scale-solar\/"},"img":{"alt_text":"oil and solar in the desert","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/01\/oil-vs-solar.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/01\/oil-vs-solar.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2014\/01\/oil-vs-solar.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":19900,"url":"https:\/\/www.solarquotes.com.au\/blog\/ardern-fossil-fuels-mb0500\/","url_meta":{"origin":4766,"position":3},"title":"Jacinda Ardern Urged To End Oil And Gas Exploration In New Zealand … Now","author":"Michael Bloch","date":"March 13, 2018","format":false,"excerpt":"New Zealand Prime Minister Jacinda Arden's green energy street cred is being put to the test after an open letter was published urging her government to end oil and gas exploration in the country. Last month, Prime Minister Ardern delivered a speech to New Zealand Institute of International Affairs, during\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Jacinda Ardern - coal, oil and gas","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/jacinda-ardern-coal-gas.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/jacinda-ardern-coal-gas.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/jacinda-ardern-coal-gas.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/jacinda-ardern-coal-gas.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":13611,"url":"https:\/\/www.solarquotes.com.au\/blog\/fossil-fuel-subsidies-health-mb0144\/","url_meta":{"origin":4766,"position":4},"title":"Fossil Fuels – Billions In Subsidies, Trillions In Health Costs","author":"Michael Bloch","date":"July 31, 2017","format":false,"excerpt":"A new report says health costs associated with fossil fuel use in G20 countries are more than six times higher than the substantial subsidies the oil, gas and coal sectors receive. 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