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Arab World Goes Nuclear: The Future of Energy in the Oil Rich Gulf
November 26, 2008 1:05 AM
by LARA SETRAKIAN, ABC News Abu Dhabi
This week in Abu Dhabi, UAE, nuclear energy was the talk of the town. The Emirates Center for Strategic Studies and Research hosted a conference that made one thing clear: the Middle East has gone nuclear.
The UAE has declared its nuclear program, seeking nuclear energy as a cheap and clean alternative to the fossil fuels that have made the country rich. Why would OPEC's fourth-largest producer need nuclear fuel? Aside from the environmental benefits, there's a logic that they're better off using nuclear power at home and selling oil abroad. Burning oil at home has an opportunity cost: It's burning money before it hits the bank. Nuclear power also enables a "nuclear desalination," a relatively green way to turn sea water into fresh water for Dubai's sinks and swimming pools. At present, desalination uses carbon-based energy, with high cost and high pollution. An expert with the Environment Agency of Abu Dhabi told me it costs more to produce a gallon of water here than a gallon of oil.
Qatar, Saudi Arabia, Bahrain, Egypt, Syria and Jordan have all expressed interest in nuclear power. But is it really smart (and safe) to have an expanding nuclear map across the Middle East? Hans Blix, formerly the chief weapons inspector and Intenational Atomic Energy Agency chief, was at the Abu Dhabi conference, speaking in favor of nuclear energy in the Arab world.
"Nothing is without a risk. All energy sources have some risk, and I’m not saying nuclear is without some risk. But we have so far managed to keep it on an even keel. Long term, I’m more worried about global warning than about weapons of mass destruction," Blix told me. The UAE stated clearly it would not enrich its own uranium -- unlike Iran, its feather-ruffling neighbor to the north.
A few more energy tidbits from the conference: Oil experts see the natural price of oil somewhere between $70-$100 per barrel for the coming 30-40 years. Today's price (under $50) is undervalued; this summer's peak (almost $150) was overvalued. The world's top energy consumers per capital are in the Gulf Arab states -- Kuwait, Bahrain, Qatar and the UAE top the charts for carbon footprint. And, according to the IEA, even in the best-case scenario renewable energy along the lines of solar and wind will still scarcely contribute to our overall energy supply mix in the decades to come.
November 26, 2008 in Lara Setrakian | Permalink | User Comments (1)
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If one wanted to keep nukes out of the hands of terrorist,. why the indignation over Iran nukes and not the Saudis? After all, those on the aircraft involved in 9/11 were Saudis, not Iraqi's or Iranians! We know that Article 4 of the UN Charter gives the right to all countries to develop nuclear power, however the UN and the US have been strangely silent considering where the people were from that committed 9/11! Osama bin Laden is a Saudi!
Posted by: Dan | Nov 28, 2008 1:18:56 PM
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