Crude Investment Dilemma

Crude Awakening: Saudi Oil Minister Warns Against Renewable Exuberance - WSJ.

Basically oil costs money to get out of the ground, and with less investment and problems (corruption, rebels, lack of investment, etc.) in Nigeria, Venezuela, Russia, and Mexico that will lead to less oil in the future before alternate energy sources are available.

Of course, the question is why do the Saudi's care if the US wastes it money? But they do have a nightmare that alternate energy and increased efficiency will reduce the need for their oil. And they need a high price of oil to keep their rulers in power.

Solar and Saudi Arabia

Three different announcements lately that put together are interesting.

• AP Article - Oil giant Saudi to become solar power centre: minister. Saudi Arabia wants to become a center of Solar Technology. Nice press release.
  
• Cal Poly and the Saudis - Saudi Arabia has made a deal with Cal Poly SLO for an Engineering School (I went to Cal Poly Pomona). The Cal Poly's are excellent Engineering schools that focus on the practical.
  
• UC Berkeley seeks partnership with Saudi school - Berkeley has an excellent Engineering school.
  

Other Facts:
1. Currently there are few Engineering degrees in Saudi Arabia.
2. Saudi Arabia is seeking to diversify from just the oil industry.

Conclusions:
1. Saudi Arabia is seeking to increase the number of Engineering Graduates from it's schools.
2. High Technology is a potential area of diversification, including solar