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Politics : The Exxon Free Environmental Thread
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To: Sam who wrote (4405)10/14/2009 6:08:22 PM
From: Sam  Read Replies (2) of 49034
 
Saudis redefine chutzpah: After decades of overpricing, and with trillions of dollars in future revenues, they want aid if world cuts oil use in climate deal
October 14, 2009

Let’s call it The Audacity of OPEC. AP reported last week:

Saudi Arabia has led a quiet campaign during these and other negotiations — demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels.

That campaign comes despite an International Energy Agency report released this week showing that OPEC revenues would still increase $23 trillion between 2008 and 2030 — a fourfold increase compared to the period from 1985 to 2007 — if countries agree to significantly slash emissions and thereby cut their use of oil.

more at
climateprogress.org


“It is like the tobacco industry asking for compensation for lost revenues as a part of a settlement to address the health risks of smoking,” said Jake Schmidt, the international climate policy director at the Natural Resources Defense Council. “The worst of this racket is that they have held up progress on supporting adaptation funding for the most vulnerable for years because of this demand.”
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