The need for renewable energy in an oil-rich region

Since 2000, many political and business leaders have shifted their focus from lowering energy costs to diversifying their energy supply, in part through the introduction of renewable energy. This change was triggered by concerns over security of supply, fuel cost volatility, climate change and fast-growing demand from emerging countries. Gulf Cooperation Council (GCC) countries were able to defer this discussion by several years, thanks to their domestic oil and gas resources, but have recently undertaken a number of initiatives to introduce new energy sources. In the process, they have generated some skepticism: Why should a region that contains almost half of the world’s remaining oil and gas reserves adopt renewable energy?  Actually, in many respects, the case for renewable energy is stronger in the GCC than in many other places in the world. Cost is one driver in developing the rationale for renewables. Some technologies, such as wind, already reaching