
The oil-laden Abu Dhabi in the United Arab Emirates, which currently holds 10 percent of the world’s oil reserves, has just launched a decade-long campaign to build the world’s first renewable energy city.
Proof that even if money is involved, people are capable of taking moral initiative against their financial interests, the city will have no carbon footprint and will be run entirely by sustainable energy despite the major oil interests that Abu Dhabi currently possesses.
Masdar City will be built from the ground up and will, upon completion, contain 50, 000 inhabitants. Despite the seeminly gigantic conflict of interests that comes with a major oil-exporting nation pioneering alternative energy, those in charge of building Masdar City see no problem with the idea.
Sultan Al Jaber, CEO of Abu Dhabi Future Energy Co., the developers planning the city, answers the “Why?” question simply: “There are two reasons. Number one, because we can. Number two, because we should. And because this is a logical step and a natural extension for our involvement in the energy markets.” It seems that someone in the oil industry is finally catching on to the wealth that will soon be booming in the field of renewable energy.
Abu Dhabi has already committed $4 billion for the project and plans to raise another $18 billion, and it is attracting attention from many Western firms and organizations including MIT and the Foster and Partners architectural firm.
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