Making hay while the sun still shines

  Oil and gas markets face a number of challenges to their continued development, with producers confronting three main issues: peak oil, alternative energy and/or nuclear power and the risk of geopolitical instability. The United Arab Emirates is as affected by these issues as any other energy-exporting nation. Dubai is already experiencing the effects of peak oil, as its reserves dwindle to nearly insignificant levels. The country is pursuing nuclear and renewable energy to offset its consumption of fossil fuels. The UAE also relies heavily on the Strait of Hormuz for most of its export capabilities — leaving it vulnerable to the potential effects of war with Iran. Peak Oil Peak oil represents one key theoretical challenge to producers in the oil industry. The idea is that because global stores of oil are finite, the world will one day reach a point where it is extracting the maximum amount possible,