Rising populations and growing wealth have coupled with low domestic prices to propel huge increases in energy consumption within the six Gulf Cooperation Council countries, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. The trend of large and continuing increases in demand threatens assumptions about the sustainability of the region’s oil exports. Politically difficult reforms that moderate consumption can extend the longevity of exports, and perhaps, the regimes themselves.
Published in The Energy Journal, November 2014.
Nov. 14, 2014, 9:07 a.m.