Black gold
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For the first time in 25 years, black gold has been found inland of northern Sarawak. Yes, black gold, the name so lovingly coined by early prospectors for crude oil.
A massive deposit of crude oil and gas was discovered onshore of Miri, Sarawak through a JV of PETRONAS (Petroliam Nasional Berhad) with JX Nippon Oil and Gas Exploration (Onshore Sarawak) Ltd – the main operator of Block SK 333. These massive deposits are, if fully exploited, likely to create another economic boom in the oil and gas supply chain as well as community support services in the state. Never mind the environmental consequences….
In a country like Malaysia, how can the uptake of renewable energy advance when crude oil resources (such as these new wells) contribute so much to the community and to the nation? The thing to remember is that the benefits from oil (and other fossil fuels) may be apparent now and may result in high economic gains at the moment, but what will happen when oil resources deplete in future years? The key is to start investing in renewable energy and work out the knots of these technologies now, so that we will not be left struggling to adapt.
Malaysia would do well to follow the surprising lead of two oil producing countries who are in the top ten of the world, Saudi Arabia and the UAE. Although oil and gas is the main economic driver in these countries, there is a deliberate shift to renewables with clearly defined targets that they intend to achieve. See Sunrise in the Desert (http://www.smartplanet.com/blog/take/sunrise-in-the-desert/374?tag=nl.e662&s_cid=e662).
The aim therefore should be to TRANSITION our economy from fossil fuel based to renewable energy based with ambitious targets, while creating a balance between economic and environmental outcomes.
The aim therefore should be to TRANSITION our economy from fossil fuel based to renewable energy based with ambitious targets, while creating a balance between economic and environmental outcomes.