Time is running out for oil-dependent nations. The world is transforming quickly and climate change is accelerating oil’s demise even faster. Despite fossil fuel’s so-called imminent fall of grace with buyers, most consumers will require oil and gas in the foreseeable future. Before the Coronavirus devasted the global economy, oil consumption was slated to grow slightly until 2030 and remain stable for the next couple of decades . Although it is unclear how demand will develop after the current crisis, certain energy-dependent nations are using the opportunity to create a modern economy and reduce dependence. Especially Saudi Arabia has been vocal on this point during the past couple of years. Ever since the reform-minded crown prince became the de facto leader of the oil-rich kingdom, Riyadh has laid out plans to transform the country’s economy. This includes social transformation as well as physical investments in technology and infrastructure. In […]