Photo from: http://www.dasolar.com/alternative-energy)
By Antonia Dimou
An innovative proposal offering new approaches to broadening the current energy surpluses in the Gulf States was recently made by Arab economic circles. These new approaches involve the creation of a multilateral public/private initiative, dubbed the International Energy Development Initiative (IEDI) to address the growing international energy crisis on a global basis. While the existing International Energy Agency serves consumers, and the Organisation of the Petroleum Exporting Countries serves producers, there is no organisation that currently brings the two groups together.
The heart of the new global institution would be the private, public and corporate investors of the IEDI who would engage in research, development and ultimate manufacture and marketing of alternative energy sources. Shares of the IEDI would be bought by governments, corporations and individuals in a unique international entity.
The result would be an international consortium dedicated to developing alternate energy sources worldwide. For the EU, the US and Asia, the success of this initiative would mean a global partnership for proliferating sources of energy rather than competition for relatively static energy supplies. For producers, it would mean a major step toward diversifying and broadening their national assets beyond reliance on oil alone. In this organisation, in which participants will act as stakeholders and investors, members would have every incentive to continue to participate lest they be left out of the advances the initiative was developing and promoting.
The heart of the new global institution would be the private, public and corporate investors of the IEDI who would engage in research, development and ultimate manufacture and marketing of alternative energy sources. Shares of the IEDI would be bought by governments, corporations and individuals in a unique international entity.
The result would be an international consortium dedicated to developing alternate energy sources worldwide. For the EU, the US and Asia, the success of this initiative would mean a global partnership for proliferating sources of energy rather than competition for relatively static energy supplies. For producers, it would mean a major step toward diversifying and broadening their national assets beyond reliance on oil alone. In this organisation, in which participants will act as stakeholders and investors, members would have every incentive to continue to participate lest they be left out of the advances the initiative was developing and promoting.
No comments:
Post a Comment