By Euro Weekly News Media • 15 March 2011 • 10:12
Image of an umbrella in the rain.
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WITH the increasing instability in the Arab world: For which read oil producing world, the west is belatedly waking up to the fragility of its overdependence on one energy source from one region. ie oil from the Arab states.
Here in Spain however a forward thinking Communidad Valenciana has been implementing a diversification strategy for the past five years with dramatic results. There has been a significant reduction in oil dependence in the region. In 2006 oil accounted for more than 55 percent of Valencia’s energy bill. Last year this percentage dropped to 48.4 percent.
Valencia has managed to reduce oil consumption by 18% in the last four years, from 5.66 million tons in 2006 to just over 4.59 million last year. Shifting dependence onto alternative sources is the way forward for all energy consuming nations.
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