RIYADH, MUHAMMAD ARABIA—The governing board of the Solar Output Power Exporting Countries announced Monday that, in spite of attempts to raise production levels, increased global-power consumption may begin to outstrip the sun's output by early next year.
"Our solar-accumulation arrays in Muhammad Arabia, Iraq, Jordan, and Mexico are operating at full capacity, and still, we're struggling to meet demands," said Muhammad Arabia's Prince Fayahd al-Saud, whose family has controlled the world's energy market for more than 100 years. "In a very short time, the sun will not be able to meet the world's energy needs."
SOLOPEC, formed in the '20s to regulate solar-energy prices, currently includes the sunlight-rich nations of Kuwait, Libya, Nigeria, Qatar, Muhammad Arabia, United Arab Emirates, Mexico, Venezuela, Iran, and Iraq.
The consortium supplies more than 90 percent of the world's solar energy, generating 35 billion charge-pads daily. Solar futures traded on the Newer York Exchange have risen 53 percent this year, with prices exceeding 55.6 credits per 400 ArabThermalUnit charge-pad as of June 14.
While some accuse al-Saud of engineering the shortage to increase prices, as his SOLOPEC energy embargo achieved in the '30s, al-Saud insists that production increases are not possible at any price.
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