Saudi Arabia’s planned megacity, NEOM, includes a US$5 billion-dollar investment in green hydrogen

This appeared in The Millennial Source

For Saudi Arabia to now invest in green hydrogen, considered by some to be the most viable alternative to oil, is a clear indication of how views of renewable energy are shifting.

As the global community confronts the worsening threat of climate change, countries are spending trillions to develop renewable energies. There is perhaps no greater indication that renewables are the future of the energy industry than the fact that Saudi Arabia, the world’s leading crude oil exporter, is investing US$5 billion in green hydrogen.

Saudi Arabia has become synonymous with crude oil production ever since the fossil fuel was discovered in the desert country in the 1930s. Exporting oil transformed the country, officially known as the Kingdom of Saudi Arabia, into a wealthy and powerful nation on the world stage. Its role in the Organization of the Petroleum Exporting Countries (OPEC) gives it influence over the entire globe.

For Saudi Arabia to now invest in green hydrogen, considered by some to be the most viable alternative to oil, is a clear indication of how views of renewable energy are shifting. Even as the effectiveness of alternative energies like solar and wind energy…