To hesitate is to perish…
“Hard times create strong men, strong men create good times, good times create weak men and weak men create hard times”.
setting fire on nature’s blood awakens a green giant…
“My Grandfather rode a camel, my father rode a camel, I ride a Mercedes, my son rides a Land Rover, but my great-grandson is going to have to ride a camel again” .
Famous and wise phrases coined by Sheikh Rashid bin Saeed Al Maktoum.
Rashid was born in Dubai, as part of the OPEC (Organization of the Petroleum Exporting Countries) Dubai is one of the most luxurious places on earth. Oil was discovered in Dubai in 1966; this oil seed enabled this land to invest in other enterprises and get the status it currently has. Like Dubai, many other countries have benefitted from the “black gold”, specially the USA, the most powerful nation in the world. In 1974 through 1975 -after the 1973 oil crisis- The USA and Saudi Arabia struck a strategic deal where the Saudi oil would be priced in dollars in exchange for security guarantees and military hardware; soon later other OPEC countries followed suit and made the same agreement.
This strategic alliance have made both regions wealthy and prosperous and for the time being it has been good.
Oil remains the most common, powerful and tradable source of energy worldwide, it is the oxygenated blood of the body of commerce. Approximately 60% of the entire global oil production goes toward the transportation sector. The world has grown dependent on this ground fluid as means for mobility. This black liquid that emanates form the depths of the earth is set on fire to expand and fuel our economy; and for the time being it has been good…
Nonetheless as we move forward we face new challenges and become conscious of our ecological footprint the conflict between oil as main source of energy and a more green future is evident.
But there is hope, some countries have figured it out already…
…Nuclear power accounts for 65% of France’s main electricity source and 59% of electricity in Germany is generated from renewable sources, primarily wind and solar. Electric vehicles in China account for 60% of new car sales.
Moving away from fossil fuels in the USA comes with some challenges nonetheless. The 2045 EV mandate for California may have 21.1% power capacity shortages and strain on local infrastructure say studies from The Pacific Research Institute.
About 40% of billionaire investments analyzed are in oil, mining and shipping, driving higher emissions as a consequence.
Clean energy and electric vehicles post the biggest threat to the petrodollar system and billionaire investments. The EV market is constantly expanding and renewable sources of energy are becoming more common. A green energy giant is rising slowly but surely on the horizon. Will the black gold stand a chance?
Special Thanks to the painters and their masterpieces: “A Dispute Among Arabs” 1824-1904 by Jean Leon Gerome. “The Triumph of Death” 1562 by Pieter Bruegel the Elder. “A painting of the Famous road trip with Bertha Benz and Sons Richard and Eugen in 1988” courtesy of Mercedes-Benz. “Benjamin Franklin Drawing Electricity from the Sky” circa 1816 by Benjamin West.