An energy strategy for the near future

Energy strategies need to be planned differently moving forward, especially in funding Renewables. The main strategy that needs to be embraced and implemented is one where some portion of energy profits are reinvested into renewables. 

Let us first assume that low oil prices will remain relatively low for the foreseeable future, because oil producing countries with large reserves of cheaper-to-refine oil (e.g., non-tar sands oil and lower sulfur oil), seem to be accepting the reality of climate change and realize REs are going to displace fossil fuels as a main source of energy for transportation and structural (buildings) energy use. Take a look at how much the UAE are currently investing in solar and wind. The city of Dubai, alone, will invest $3.3 billion in solar from 2015-2019, and, by 2050, plans to fulfill 75% of its energy needs with clean power generation.  

The economics of CO2 outputs will outpace the costs of using fossil fuels. So, as a nation, why not sell all the oil you can at the cheapest rate that keeps the other (OPEC and non-OPEC) competition out of the market? By the time your national reserves are empty, the world has kicked the need for petroleum as its main energy source for transportation. This would be the most rational play for OPEC nations with the cheapest to tap reserves... until they run out. In the meantime, use profits to invest in RE strategies for the nation.