The World Future Energy Summit will take place in Abu Dhabi this month, starting from the 18th Jan, till 21st Jan. This third World Future Energy Summit will scrutinize the implications of the decisions that were taken at the Copenhagen climate change summit, and discuss renewable energy alternatives available.
A forum of world leaders, policy makers, industry experts, thinkers, investors and researchers from over 100 countries are expected to sit together to discuss that renewable energy is not a threat to oil producing economies, but instead, it provides new business opportunities.
Some of the other topics on the agenda include:
Carbon capture and storage
Advances in solar technology
Energy efficiency from the consumers perspective
Planning for sustainable development
The International Renewable Energy Agency (IRENA), which is closely associated with the summit, has quoted Saudi Arabia’s King Abdullah’s statement on its website to support the fact that diversification away from oil is a wise insurance policy. It says that although the Middle East is rich in oil, but once the “oil boom” is over, all of us must get used to a different lifestyle, as said by the king. It is expected that “Peak oil” in Saudi Arabia and Kuwait will occur in 2014 and 2013 respectively, according to IRENA. The potential profit that lies in alternative energy projects, particularly in solar energy projects in areas with abundant sunlight, are also pointed out on the website.
Abu Dhabi, which is one of the largest oil producers in the world, has seen the hidden opportunities in renewables relatively early. Hosting both the WFE summit and the IRENA, it shows itself as a "green" Emirate.