ABSTRACT
At the beginning of the twenty-first century the future role and importance of the
oil exporting countries in the Middle East is rather uncertain. The clear Cold-
War division of the world has disappeared and states are in the process of
redefining their national interests. The major dilemma is the future role of their
primary source of income. Oil is still king, but scientific and industrial
developments tell us that we are in the midst of a transformation process that
indicates a global shift from oil (and other fossil fuels) to alternative sources of
energy. A new energy paradigm is emerging, forged by technological advances,
resource and environmental constraints, and socio-economic demands. The main
fuel for the second half of the twenty-first century could be hydrogen, the
lightest and most abundant resource in the universe. Like the hydrocarbon era
that precedes it, the dawning hydrogen age not only carries with it its own set of
risks and uncertainties, but also its own set of winners and losers. Oil exporting
countries are confronted with this challenge and are reaching varying
conclusions.
