SAUDIS WANT NEW ENERGY

This in the answer to the "Jeopardy" question: "What do you do when you realize your oil resources are going to peak?"

Research Center for Renewable Energy Set Up
M.Ghazanfar Ali Khan, July 11, 2007 (Arab News)

WHO
S.U. Rahman, interim director

WHAT
The motto of the new multimillion-riyal Center of Research Excellence in Renewable Energy (CoRE-RE) is “Empower the Kingdom to continue as the world energy leader.”
Dhahran is northeast of Riyadh, near the Gulf coast (click to enlarge

WHEN
Presently working on resource mobilization, the center’s full range of research activities will begin in 2008. It is seen as an on-going leader in the energy world. Supported by the Saudi Ministry of Higher Education for 5 years.

WHERE
King Fahd University of Petroleum and Minerals (KFUPM), Dhahran, Saudi Arabia

WHY
- The mandate: research in renewable energy. The country’s long-term economic challenges will burden whatever they make of their oil industry. Oil industry revenues constitute 90-95% of exports, 70-80% of total revenues, 40% of Saudi GDP. Its leaders see the need to diversify.
- CoRE-RE will have research branches in hydrogen, methanol and the fuel cell, solar and wind energy, and the economics of renewable energy.
- Aims: R & D, technology transfer, advance/disseminate knowledge, train, create awareness, build new national and international industries
- Saudi Oil, fast facts: the world’s biggest producer/exporter. 261.9 billion barrels/proven reserves (includes 2.5 billion barrels in Saudi-Kuwaiti “neutral” zone). 2/3 of Saudi reserves are Saudi “light” or “extra light” grades, as opposed to 1/3 “medium” or “heavy.” 80 oil and gas fields, 1,000 oil wells.
King Fahd University of Petroleum and Minerals--great place to study solar energy (click to enlarge)

QUOTES
Rahman: “…it is high time to pursue intensive studies and research in the field of renewable energy as the Kingdom lags behind in this area…The center aspires to prepare the Kingdom for the fast approaching hydrogen and methanol economies and help harness its immense solar and wind potentials…Renewable energy is going to play an important role in future energy markets…”