Richard Branson

Space-mining may be a decade away as oil-rich Middle East countries look to diversify

Space-mining may be a decade away as oil-rich Middle East countries look to diversify

Is water the new oil of space?

It may be to Middle Eastern oil states such as Saudi Arabia and the United Arab Emirates, who are looking at space as a way to diversify out of the earthly benefits of fossil fuel.

"Middle East oil states are investing in satellite technology and trying to transform their domestic economies into digital economies and knowledge-based economies," said Tom James of Navitas Resources, an energy consultant based in London and Singapore.

As space colonizers such as Elon Musk and Jeff Bezos (owner of The Washington Post) aspire to shrink the cost of space travel, interest has picked up among oil states and others in how to power space...

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