Energy Industry

Economic diversification in the Middle East is a real challenge, because the oil and gas industry is so productive, and it throws off so much income that it becomes difficult for other industries to compete with that.

[On China and clean energy] I think it’s important to realise that China’s influence here is not simply in the mega solar projects that it builds within its own borders, but also in the mega solar projects that are built outside of China.

[On economic diversification in oil-producing countries] That was in large part because of the realization that they can no longer depend on oil. Tangentially, the liberalization taking place—such as allowing women to drive—is part of the same trend.

[On impacts of higher oil prices] During periods of price rises in the past, there has been a shift to more fuel-efficient vehicles. That is likely to occur again. However, there remains a price premium for electric vehicles; overcoming this up-front cost, range anxiety and concern about charging infrastructure will be necessary for EVs to take off.