The state news agency says:

The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud issued today a royal order establishing “King Abdullah City for Nuclear and Renewable Energy” in accordance with its law. Former minister of commerce and Harvard-trained physicist Hashim Yamani will head the new organization.

I always believed that Saudi Arabia, as the world’s top oil exporter, should invest part of the wealth generated by its vast but finite natural resources to deal with the reality of living in the post-oil era. This is a step in the right direction.