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13 Jan 2009: Persian Gulf States
Pour Billions Into Green Revolution

Persian Gulf leaders who have built their fortunes on oil are investing billions of dollars in green energy research and technology in hopes of cementing the region’s role as a global energy supplier for a new era, The New York Times reports. In addition to setting up renewable energy research parks across the region, the leaders are making major investments in clean energy research and development around the world. The crown prince of Abu Dhabi is investing $15 billion in renewable energy development. King Abdullah University of Science and Technology, a state-owned university in Saudi Arabia, has given a Stanford University researcher $25 million to find ways to make the cost of solar energy competitive with coal and has given a University of California researcher $8 million to develop green concrete. In Qatar, the government has invested more than $220 million in a British low-carbon technology fund — far more than Britain has invested itself. Next week, Abu Dhabi will host business and political leaders for the second World Future Energy Summit, which is fast becoming a leading global gathering on renewable energy.

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