HE Qatar Prime Minister Calls on Adopting A Post-Oil Clean Energy Strategy

Doha , February 20 (QNA) - HE the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor Al Thani has called for adopting a post-oil strategy, suggesting that some of the oil returns should be invested in clean energy scientific research. '' This step should be one of the main priorities of GCC countries'', said HE the prime minister and foreign minister on his address before the inaugural session of the 2012 Doha Brookings Conference for Energy in Doha on Monday. HE the Prime Minister further that it is not sufficient that each country works unilaterally on its clean energy plan, adding that despite Qatar's success in producing 77 million tons of LNG in 2010, a more comprehensive plan that covers the GCC's developmental needs for the next five decades, must be adopted. HE Sheikh Hamad bin Jassim bin Jabor Al Thani further said that the world's oil reserve is 1200 billion barrels, 65% of which is in the GCC. The current consumption of oil is 80 million barrels a day, equivalent to 30 billion a year. With the increase in oil consumption like in the future, HE the Prime Minister concluded that the value of oil will decrease with time as the reserve runs out. Another reason would be finding a cheaper product that is less harmful environmentally, HE the Prime Minister noted. HE the Prime Minister and Foreign Minister stressed that morale responsibility towards future generations prompts GCC countries to find new energy products that are more sustainable, in order to achieve sustainable development. HE Sheikh Hamad Bin Jassim underlined that any growth, regardless of how big, will be lacking if it doesn't take the prosperity of future generations into account. HE the Premier and Foreign Minister called on the conferees to avoid discussions on the energy price levels since in that regard these factors will be determined by the market. They can also be negotiated with OPEC, the Prime Minister added. Elaborating HE Sheikh Hamad bin Jassim bin Jabor Al Thani said that the focus of attention should be directed towards the strategy of the next stage that will follow oil. His Excellence praised the topic of the conference and said that energy was never a commodity that was subject to laws of supply and demand only. HE the Prime Minister said in that regard that energy has always been the tool for development and a reason for conflict between all countries. The world's biggest industrial countries looked to control the available energy resources will research new sources of energy, HE the Prime Minister said. HE Sheikh Hamad Bin Jassim Bin Jabor Al Thani further said that efforts made by the industrial countries to find new sources of energy must act as a guidance to what the oil producer's next step should be. HE the prime minister and foreign minister added that fear of using nuclear energy as a substitute for oil, grew after the Chernobyl crisis, the matter which prompted industrial countries to research new, safer, sources of energy. His excellence has stressed that any observer of the research efforts can conclude that the future in the next thirty years will belong to clean and sustainable energy, pointing meantime to the French government, which began the works on a 10 billion Euro project to produce solar energy. The German government announced that it will stop using traditional fuels by the year 2050, HE the premier and FM told the conferees. HE the Prime Minister noted that such efforts come at a time when American scientist Craig Venter made significant discoveries of producing energy using bacteria. HE the Prime Minister noted that the previous scientific researches were accompanied by a significant increase in clean energy investment. The total investments in clean energy in 2009, HE the Prime Minister said, were worth $186 billion. In 2011 it reach 260 billion, HE the Prime Minister noted. The Prime Minister expects the total investment in clean energy to reach $600 billion by 2030. Concluding his address, HE the Prime Minister expressed his trust in the participators abilities to come up from the conference with the right recommendations in the field of energy, that would benefit the GCC region. (QNA)