Saudi Arabia - Last Man Standing

[AdrianC + 42]

Saudi Arabia says it will be the last man standing when the world finally weans itself off oil.

And it doesn't expect that to happen for a very long time, despite the rise of renewable energy.

https://edition.cnn.com/business/live-news/davos-2019-live-updates/h_c675906ad1ab2fccdd81301f6766fd8f 

[Meredith Poor + 883]

If everyone can produce their own hydrocarbons from solar power, particularly for jet fuel, then 'oil will never go away', however Saudi Arabia will only be producing what it needs for domestic consumption. Everyone will be left standing - except maybe for Lichtenstein.

[Uduak + 22]

On 1/23/2019 at 3:19 AM, AdrianC said:

Saudi Arabia says it will be the last man standing when the world finally weans itself off oil.

And it doesn't expect that to happen for a very long time, despite the rise of renewable energy.

 

 

Edited January 24, 2019 by Uduak

[John Foote + 1,135]

Amin Nasser is a bright technocrat, and he's right about the region being a low cost producer. He didn't say KSA, he said the region. KSA's consumption rate needs to quit climbing. The fundamental challenge is the overhead burden that oil funds the overall, and in that manner, KSA is not low cost overall, just low cost lift cost. 

Amin Nasser isn't trying to be the next minister, he doesn't come from the right tribe or religion, which is quite an accomplishment. He's risen thru competence, and of course he is smart politically. 

The regions challenge is stability. KSA has been exceptionally stable since the 30s, but as Dylan would say, "The times they are a changing." MBS is running roughshod. They do need Vision 2030, but it can't be more cronyism on steroids or it accelerates problems.

[JoMack + 547]

Unless I missed it, solar power cannot produce a hydrocarbon.  Hydrocarbons are molecules formed by carbon atoms.  Not sure if solar fits that definition.

[NickW + 2,714]

51 minutes ago, JoMack said:

Unless I missed it, solar power cannot produce a hydrocarbon.  Hydrocarbons are molecules formed by carbon atoms.  Not sure if solar fits that definition.

Electricity (from solar)  can produce hydrogen and it can also isolate Carbon Dioxide. With that and an Nickel catalyst you can run a sabatier reaction to produce Methane or more critically ethylene which is the basis for many plastics. 

No doubt more expensive than plastics produced from hydrocarbons at current prices but basically with Victorian era technology you can produce plastics from solar electricity

Edited January 27, 2019 by NickW

[Meredith Poor + 883]

3 hours ago, JoMack said:

Unless I missed it, solar power cannot produce a hydrocarbon.  Hydrocarbons are molecules formed by carbon atoms.  Not sure if solar fits that definition.

So how did the hydrocarbon get in the ground in the first place?

Look up carbonengineering.com, among others. Another good keyword search is 'biocrude', and more generally 'flash pyrolysis'. 

[Steve Ackeret 0]

Boasting about the last barrel of oil is like bragging about forming the last horseshoe.