The Most Successful Oil Economy That’s Moving Away From Oil

February 5, 2020

A discussion about oil-dependent economies often calls to mind an image of some anonymous Middle Eastern country almost entirely dependent on its oil exports to generate revenues. But there is one Middle Eastern country that plans to celebrate the last barrel of oil that it will one day export.

The Emirati Khalifa University last week announced that it had installed a first-of-its-kind solar concentrator in the smart city of Masdar, boasting that the facility had the concentration ratio of a thousand suns and could generate temperatures of over 1,000 degrees Celsius. The United Arab Emirates does not plan to go down in history as only an oil producer and nothing else.

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