Saudi Arabia is all poised for its new investments of $ 100 billion to tap solar and other renewable energy sources to meet its increasing demand of power.In order to sustain the 10 % economic growth scenario, Saudi Arabia needs to re invent new sources of Energy apart from its existing oil resources.The energy demang is coming heavy on the nation and the oil resources are to be preserved so that they can be used for export purposes, to continue to remain as one of the main providers of crude oil for global purposes.Right now Saudi Arabia with 20 percent of the world’s oil reserves, burns some 800,000 barrels a day of oil equivalent to satisfy domestic demands.
After upraisings and violence curbed further exports of crude oil from Libya, Saudi Arabia increased its daily output to 8.87 billion barrels a day as part of its pledge to meet the global needs.
The nation is making massive plans to tap solar power, nuclear power and other non hydrocarbon sources for meeting its future energy demands.
After upraisings and violence curbed further exports of crude oil from Libya, Saudi Arabia increased its daily output to 8.87 billion barrels a day as part of its pledge to meet the global needs.
The nation is making massive plans to tap solar power, nuclear power and other non hydrocarbon sources for meeting its future energy demands.
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