006 - David Greenberg Discusses OPEC, the Potential of Renewable Energy Projects and the Blockchain and Trading Energy Tokens

In the latest installment of  Ziyen Energy’s Podcast, BOOM! It’s on the Blockchain, ZIYEN Chairman, David Greenberg, discusses the complex matrix that makes up the global oil market, Saudi Arabia’s key role in OPEC, the Organization for Petroleum Exporting Nations, in addition to the the role renewable energy will play in the next ten years.



 With the demand for oil reaching 92 million barrels a day, and Saudi Arabia and OPEC capable of supplying approximately 40 percent of this demand, it has meant Saudi Arabia has dominated the market space. However, this is changing with the increase in domestic production in the US. David also discussed the recent drone attacks in Saudi Arabia and how in the past would have disrupted the entire global market, yet, luckily disrupted only 5% of the oil market.



This is largely due to the rise in the output of domestic crude which has increased by 150% and gas output increasing 60%. Oil, however, is more easily transportable and sold on a larger and broader scale on the international market with linked prices. However, it is important to remember that for oil consuming nations, events such as the drone attacks can have far-reaching effects on their supply.

Lastly, David discusses the opportunity for Trading Energy Trading.  Where we have collaborated and created a method for tokenizing the financial assets of oil and energy projects on the blockchain.

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