As the world focuses on climate change targets, the Middle East doubles down on oil (with U.S. producers' help)
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bet. In this episode, World Oil editors take a look at how ambitious renewable energy programs will depend on oil and gas technology to come to fruition, review the money moves Saudi Arabia, the UAE and Oman are making to fill the void they see Western producers leaving in the global oil market, regulatory shenanigans in Texas, and a still-climbing rig count that looks to exceed even the most optimistic recent projections.
