If the world abandons oil too quickly, the powerful authoritarian state that the Emirati rulers have built in 50 years could crumble as the revenue that finances much of their budget dwindles. Yet, if the world moves away from oil too slowly, the sliver of land the Emirates call home could become a wasteland by the time their grandchildren grow old: Scientists warn that the unmitigated burning of fossil fuels could eventually send temperatures in the Emirates soaring beyond the limits that humans can survive.
Our leadership are very future-oriented and already many years ago understood how important it is for us to diversify, Mariam Almheiri, the Emirati minister of climate change and environment, said in an interview last week. The Emirates was one of the first countries in the Gulf region to invest in renewable energy and develop industries beyond oil, including aviation, ports and tourism. Time is not on our side, Ms. Almheiri said. We cannot wait another two or three years to make any big movements.
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