The New Energy geopolitics and the Gulf Arab States - The Geopolitics - 0 views
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today’s largest volumes of global seaborne crude oil – around 30% – along with a significant volume of LNG, passes through its Straits of Hormuz, making it the most important maritime oil chokepoint which connects the Gulf states with key global markets in the East and the West
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The International Energy Agency (IEA) sees that the world can reach net-zero emissions by 2060, wherein 75% of reduction comes from energy efficiency and renewable energy, with another 14% from carbon capture and storage, 6% from nuclear and 5% from fuel switching. In this context, the fossil fuels’ share of the global energy mix falls from 82% in 2014 to 35% in 2060 under the 2°C scenario, or to 26% in the below 2°C scenario.
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Renewable technologies and batteries require certain minerals for their production, such as cobalt, lithium, nickel and rare earth elements. Despite the fact that renewable endowments for wind, solar, geothermal and biomass are scattered geographically, controlling the production of these new commodities will have major geopolitical consequences as they are based only in a selected number of countries such as Chile, Bolivia, Mongolia, and the Democratic Republic of Congo (DRC).
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the importance of the Gulf Arab states will be eroded not only because of the decline in global demand for oil but also because Gulf countries are not rich in the minerals required to build renewable energy technologies, and are highly dependent on technology imports rather than in-house technology innovation and research and development
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all hydrocarbon producer economies will see a fall in total rent of about 40% by 2040 compared with the ‘golden years’ of 2010-14 due to rigorous policies on fuel switching and efficiency to reach net-zero emissions in the second half of this century
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In 2013, R&D investment in Gulf countries averaged 0.3% of the gross domestic product (GDP), compared with 2%–3% in industrialized countries. The 0.3% figure is far less than the minimum percentage (1%) needed for an effective science and technology base specified by UNESCO.
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in the new energy era, the Gulf Arab states are still advantaged by their geographical location. These countries are specially positioned for harnessing wind and solar energy