You can create energy storage with excess energy. With energy of a large enough scale even electrolysis, as opposed to steam methane reforming, could be used to

You can create energy storage with excess energy. With energy of a large enough scale even electrolysis, as opposed to steam methane reforming, could be used to produce renewable clean energy in the form of hydrogen that could be used to create more stable power output. Saudi Arabia and all nations that rely on oil exports certainly have to be seeing the future a bit differently than the rest of the world, and so you have to take this into account when considering their plans. It's probably not particularly controversial to say that oil won't be nearly as valuable in 50 years. But when your GDP is being sustained by oil, that means you're living on borrowed time - and when it comes to completely reshaping your national economy and international role, 50 years suddenly is not such a long time.