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When oil demand is low, they have to get into a new market like renewable energy. Solar, wind, water turbine, geothermic etc. They have to invent the IP, and s
by orionblastar 11y ago
When oil demand is low, they have to get into a new market like renewable energy. Solar, wind, water turbine, geothermic etc.
They have to invent the IP, and sell the equipment, and use it in their own nation to sell the electricity or batteries for money.
It takes a different business plan than oil, but they have to adapt to it sooner or later.
- pkaye 11y agoIt is difficult to export electricity, (renewable or not) due to transmission infrastructure costs and losses.
- justinclift 11y agoWouldn't reducing the transmission losses be worth them putting serious R&D effort/$$$ into?
- chris_wot 11y agoTransmission lines to the USA from Saudi Arabia - is that even feasible?
- justinclift 11y agoTechnically... probably possible. Feasible... that would be the R&D required. :D Undersea cables are run for comms. So, super-massive-XXL sized superconductor versions of that...? ;)