High Oil Prices Are Fueling The Middle East's Renewable Energy Boom

In a fairy-tale turnaround that few could have foretold, oil prices have soared to multi-year highs, largely aided by strong post-Covid demand, surprise OPEC+ cuts and the disruption caused by Russia’s war in Ukraine. The petrodollar windfall has really given a boost to previously battered Gulf economies, allowing some Gulf Arab states to pay down debt and others to diversify their oil-reliant economies in very big ways.

All the six Gulf Arab states--Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman--are on track to…