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...solar and in carbon-trading projects throughout the world. Most significantly, Masdar is pioneering a model carbon capture and sequestration (CCS) project with the energy and mining giants BP and Rio Tinto that will take CO2 emissions from industry in the emirate and store the CO2 in abandoned oil wells. Since even the most optimistic energy projections assume we'll be burning fossil fuels for decades, perfecting CCS is vital to controlling emissions--and who would be better suited to cleaning up fossil fuels than an emirate that produces nearly 3 million bbl. of oil a day? "It's hugely...

Author: /time Magazine | Title: Abu Dhabi: An Oil Giant Dreams Green | 2/12/2009 | See Source »

...solar panels angled to the Middle Eastern sun like bathers lying poolside. The solar farm is the earliest tangible part of Abu Dhabi's Masdar City, a $22 billion project designed to be the world's first zero-carbon-footprint, zero-waste settlement--the embodiment of this oil-rich Arab city's surprisingly green dreams. "This is bringing attention and capital from around the world to Abu Dhabi," says Khoreibi. "We're going to use this as a launching pad for clean development...

Author: /time Magazine | Title: Abu Dhabi: An Oil Giant Dreams Green | 2/12/2009 | See Source »

...Dhabi is the last place you might expect to find the future of environmentalism. The wealthy capital of the United Arab Emirates is the world's eighth biggest producer of petroleum. But the leaders of Abu Dhabi know--perhaps better than most--that the oil won't last forever, so they have embarked on the Masdar Initiative, a multibillion-dollar push to establish the emirate as a center for clean-technology development and innovation. Those plans include Masdar City, designed by British architect Norman Foster, as well as a $250 million clean-tech investment fund and an energy-engineering school...

Author: /time Magazine | Title: Abu Dhabi: An Oil Giant Dreams Green | 2/12/2009 | See Source »

...Dhabi's leadership is all the more necessary at a moment when once vibrant green businesses are flagging, thanks in part to the plummeting price of oil. In the U.S. and Europe, new wind- and solar-power installations are slowing, energy start-ups are starving for funds and some green companies are laying off workers. But it's still full speed ahead in Abu Dhabi, where last month's World Future Energy Summit (WFES) attracted more than 16,000 visitors and companies that ranged from General Motors to modest Chinese solar manufacturers. And with a new Administration in Washington struggling...

Author: /time Magazine | Title: Abu Dhabi: An Oil Giant Dreams Green | 2/12/2009 | See Source »

...future of American-Iranian relations isn't up to Ahmadinejad alone, of course. Power in Iran is exercised by the elected presidency and parliament but overseen by less transparent clerical authorities headed by Khamenei. And with oil prices tumbling and the economy in poor shape, Ahmadinejad may face stiff competition in presidential elections this year. Yet even if more moderate politicians like former President Mohammed Khatami come to power, anti-Americanism is so much a part of public life in Iran that the question remains: Is détente with the U.S. compatible with the legacy of the Islamic revolution...

Author: /time Magazine | Title: Talking and Listening to Iran | 2/12/2009 | See Source »

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