OPEC won't cut output even at $20 a barrel: Saudi

[MADem]

8. Here--I got lazy, I've got proof !

http://www.forbes.com/sites/dannykennedy/2012/12/10/saudis-invest-heavily-in-solar-just-as-the-us-tries-to-catch-up-to-saudis-in-oil/

There wasn’t much coverage earlier this month of the Saudi Arabia‘s decision to invest $100 billion in solar power. Instead there was a lot of frothy coverage of an International Energy Agency report suggesting the USA could overtake Saudi Arabia as an oil producer by 2020 if a lot of dubious assumptions panned out.

Likewise there wasn’t a lot of interest earlier this year when Warren Buffett, through MidAmerican Holdings, put over $2 billion into one solar project in California. Instead there was a lot of noise and grandstanding when the US government picked the wrong bet and lost a quarter as much in Solyndra.

The reality is that solar power has come of age and is now a bankable technology attracting the likes of Buffett and Google and KKR and Blackstone and Walmart and MetLife because it garners double-digit returns on investment. Smart money and the Saudi’s know solar works; why don’t we?

Take only the news from King Abdullah City for a moment, where spokespeople say they’re targeting around 41,000 megawatts of solar capacity within two decades[ii]. Can you imagine the hype if 41 nuclear power plants were seriously canvassed to be built anywhere in the next 20 years?

I think we're on the cusp of a change in the way people are thinking--even the oil producing states are turning to solar as a way to clean their own air and extend their reserves....every barrel they don't burn at home is one they can sell. Over the long haul, though, one country at a time, we're going to see solar and wind--and who knows, maybe even wave power--become ascendant.

Oh, happy day! It can't come too soon to suit me!