The Economy of the UAE
The Future: Energy Transition and Diversification
The UAE invests in renewables, nuclear power, AI and space while hosting climate talks, aiming to stay relevant as oil demand changes.
Preparing for a post-oil future.
Clean energy
Masdar and other firms are investing in solar and other renewables at home and abroad.
Nuclear
The Barakah plant supplies a share of the country’s electricity.
New industries
AI, space, advanced manufacturing and logistics are targeted.
COP28
The UAE hosted the 2023 UN climate summit, though critics noted the contradiction with being an oil producer.
A solar farm
A huge solar plant in the desert reduces reliance on gas for power.
Assuming diversification means ending oil
Oil continues to fund the transition.
Key takeaways
- Renewables and nuclear expand.
- New industries are targeted.
- COP28 was held in Dubai.
- Oil still funds change.
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