The stocks of Saudi Arabia’s top company Aramco have reported the highest loss in profit of the third quarter this year, which was at its peak in the last few years. Because its main reason is that the share price of Saudi Aramco should not fall completely, but at the peak position the price of the stocks is a loss for the companies and not for the investors. All the top countries of the world that held the highest stocks of Aramco a few years ago are now holding stocks of American, Canadian, European, and Middle East renewable energy due to which Saudi Aramco has lost up to 30% of its business. Today countries like Iceland, Norway, Sweden, Brazil, New Zealand, Denmark, Austria, and Switzerland are doing less on Renewable energy and North and Central Europe have become the largest Renewable Energy countries in the world.
Are Middle Eastern countries planning to integrate electric, wind, and solar energy for the future of Oil?
Due to this, it could be the biggest loss for Saudi Aramco till 2030 because for now Saudi Aramco is not trying new energy options like Wind power, Hydropower, Ethanol, Geothermal power, Biodiesel, Nuclear energy, Hydrogen fuel cells, and Renewable Energy could become part of Saudi Vision 2030. Saudi’s dream is till 2030, however, renewable energy like electric, wind, and solar can create big options for Saudi Aramco. All the top countries of the Middle East like Saudi, UAE, Oman, Bahrain, Qatar, and Iran are working on cold and hot natural energy which they want to offer the new energy of the future to the world like oil. Even if Saudi Aramco is going to become the world’s top power in renewable energy, if the Saudi Government does not keep this thing in its roadmap till Vision 2030, then almost all the countries of the world will produce renewable energy and natural weather-based energy. Dust, wind, water, and solar energy can become a new problem for Saudi Aramco. All the experts say that oil is the biggest source till 2050 but it is also believed that the oil in the earth is going to decrease till 2050, which is why Saudi and the Middle East are investing money in many sectors to Maintain their dominance.