Free space
Future energy
Faisal Muhammad Al-Shammari
May 29, 2021
Some may see that fossil fuels remain, and some studies (Ali Baba’s Forty People ... Adviser) have shown that oil prices will rise, perhaps to persuade the producing countries to maintain their production policies and shy away from diversifying their economies for the purpose of (Nafs Yaqoub), while Many international financial institutions emphasize the importance of relying on excises (taxes) to boost state incomes and diversify sources of income. While the Arthur Laffer - Ibn Khaldun curve showed that thinking about increasing revenues by reducing subsidies, increasing prices, or raising tax rates without studying and knowing, may lead to completely opposite results, and that the combination of supporting public revenues and directing them towards Better spending, strengthening austerity measures, and perhaps supporting public and private investment in developing the economy, is a sustainable guarantee of good management and decision.
What we are witnessing in terms of diversification of income and energy resources is indicative of relentless efforts, adequate studies and exceptional leaderships, working faithfully to implement the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, to celebrate the last barrel of oil, and what we are witnessing from the offering of shares And bonds, including what was successfully implemented by ADNOC, in offering replaceable bonds for ADNOC Distribution, which contributes to collecting an amount of nearly six billion dirhams, which gave indications of firm confidence in the economy and the national energy industries.
Also, pumping liquidity is important for investment in the future, it may have other investment alternatives, but these options are the best and the highest value.
This comes after a series of partnerships and innovative financial operations led by our National Company for Investment in Energy and Future Sustainability, and perhaps one of its most important pillars is hydrogen.
Initial plans to produce one million tons of ammonia, after strategic partnerships with Japan and South Korea, are indicative of foresight and proactive steps to maintain the country's leadership in global energy security. This completes the process of the beginnings of the hydrogen transition to energy that has less environmental impact and is more sustainable. The 300,000 tons currently produced cover ADNOC's current manufacturing needs and do not meet global markets or the expected domestic consumption requirements.
What we are witnessing from the successive announcement of hydrogen projects in all its color spectrums (blue, green, or even purple), which symbolize the technologies and mechanisms of its production, reflects an increasing institutional interest and expected profitability based on the high feasibility of production, but this does not preclude the importance of being careful about the necessity of wisdom. Projects and come up with unified standards and controls for launching projects and signing partnerships, as the competitiveness of this sector will be cemented by the integration and synergy of efforts, not by the multiplicity and uniqueness of efforts.
The competitiveness of production necessitates that the national interest prevails over the deficient individual view. It is not just a matter of allocating land to a foreign or national company for the production of fuel, but it is bigger and deeper than that.
Does this require a regulatory council or body for renewable energy matters?
Why not, when the land is fertile and global standards are still under development, so let us precede others and grow this sector in a way that supports the efforts and obliges their integration.
Certified Digital Transformation Consultant, Lecturer, and Organizational Excellence
To read the previous articles of the writer please click on its name.