Saudi Arabia, the current top oil exporter, is anticipated to be an oil importer within 20 years. This is due to many reasons, including: fast population growth and energy inefficient consumption, which is suggested to be a result of energy subsidies. As a result, the domestic energy demand is predicted to consume the whole country's oil production within the next two decades. However, Saudi Arabia has abundant solar radiation that has not been appropriately harvested. Better engineering for managing the energy policy system to contain the alternative energy sources is expected to increase oil resource life, decrease CO2 emissions, and lower the energy subsidy burden on the Saudi economy. Increasing oil life and lowering current expenditures on energy subsides increases the oil availability for exports and increases the available financial resources, respectively. This paper offers both industrial engineers and decision makers, especially those who are interested in energy systems management and strategic planning, a comprehensive review the state-of-the art of the current research on integrating fossil fuel industry, alternative energy industry, economical indicators, and CO2 emissions. In addition, an analysis of the possible research avenues to address this problem is presented.
|Number of pages||6|
|State||Published - 2020|
|Event||2016 Industrial and Systems Engineering Research Conference, ISERC 2016 - Anaheim, United States|
Duration: May 21 2016 → May 24 2016
|Conference||2016 Industrial and Systems Engineering Research Conference, ISERC 2016|
|Period||05/21/16 → 05/24/16|