THE LIFE WITHOUT CRUDE OIL
This comes at a time when almost all the global reserves of hydrocarbons have been discovered. This then takes the global energy sector into an era where we have to by all means survive without crude oil. What then does this mean for Asian countries, are they ready to adapt or their states and territories will entirely collapse without oil and gas.
Though countries like Qatar and Saudi Arabia have been able to save money inform of what is termed as the petroleum fund. "What is a petroleum fund?". A petroleum fund is money a given state decide to save for investment in future projects which are not related to petroleum. This move is done for sustainable development goal during oil and gas exploitation.
Qatar under the leadership of sheikh Hamad bin Khalifa has been able to put innovation and technology first place to enable benefit from the sector. The wise guidance of Sheikh Hamad bin Khalifa resulted in the discovery of gas to liquid technology and so Qatar had to build condensation plants near the North field.
This discovery has enabled Qatar to emerge as the largest exporter of Liquefied petroleum gas globally. This sate though has been able to learn from the dutch disease and have diversified their investments into other industries like Steel manufacturing industries.
Take a look at the African countries for example Nigeria, Angola and Libya. These countries have all fallen prey of both the dutch disease and the oil curse. In Africa, dictatorship and corruption are a big barrier to sustainable development.
The laziness and permissiveness have also contributed much and for the same reason we want to sit back and enjoy the oil money and yet there is much we can invest in as a country to continue growing. Oil and gas is a natural blessing which is like money given by the almighty to a given country to invest and improve the lives of the citizen. Therefore, these opportunities comes once in a life time, so let us not be driven by greed and aim at using natural resources responsibly.
The wars and political wars caused by crude will seize to exist and states and nations will harmonize with their neighbors. This will favor unique collaboration between neighboring countries in order to build greater trade relationships in other sectors rather than petroleum. The crude oil will no longer be a political weapon used to fight other nations but the money earned from it will instead be used to bring peace and unity among Arab and non Arab countries. please share, thanks!
Though countries like Qatar and Saudi Arabia have been able to save money inform of what is termed as the petroleum fund. "What is a petroleum fund?". A petroleum fund is money a given state decide to save for investment in future projects which are not related to petroleum. This move is done for sustainable development goal during oil and gas exploitation.
Qatar under the leadership of sheikh Hamad bin Khalifa has been able to put innovation and technology first place to enable benefit from the sector. The wise guidance of Sheikh Hamad bin Khalifa resulted in the discovery of gas to liquid technology and so Qatar had to build condensation plants near the North field.
This discovery has enabled Qatar to emerge as the largest exporter of Liquefied petroleum gas globally. This sate though has been able to learn from the dutch disease and have diversified their investments into other industries like Steel manufacturing industries.
Take a look at the African countries for example Nigeria, Angola and Libya. These countries have all fallen prey of both the dutch disease and the oil curse. In Africa, dictatorship and corruption are a big barrier to sustainable development.
The laziness and permissiveness have also contributed much and for the same reason we want to sit back and enjoy the oil money and yet there is much we can invest in as a country to continue growing. Oil and gas is a natural blessing which is like money given by the almighty to a given country to invest and improve the lives of the citizen. Therefore, these opportunities comes once in a life time, so let us not be driven by greed and aim at using natural resources responsibly.
The wars and political wars caused by crude will seize to exist and states and nations will harmonize with their neighbors. This will favor unique collaboration between neighboring countries in order to build greater trade relationships in other sectors rather than petroleum. The crude oil will no longer be a political weapon used to fight other nations but the money earned from it will instead be used to bring peace and unity among Arab and non Arab countries. please share, thanks!
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