Middle East Oil Producers Make Surprising Pivot Towards Renewables

Weaning the world off hydrocarbons to fight climate change is this generation’s biggest challenge. It is a challenge that has pushed major OECD members to adopt far-reaching strategies, such as the EU Green Deal or the UK’s future ban on new gasoline-powered cars. Yet demand for oil and gas continues to increase, putting mainstream hydrocarbon-producing countries in the spotlight. This was exemplified last week Iraq’s Finance Minister Ali Allawi, called for oil producers to move into renewable energy. At first glance, this appears…