Showing posts with label curbing oil consumption. Show all posts
Showing posts with label curbing oil consumption. Show all posts

Wednesday, October 14, 2009

Saudis Seek Payments for Any Drop in Oil Revenues

THE NEW YORK TIMES: Saudi Arabia is trying to enlist other oil-producing countries to support a provocative idea: if wealthy countries reduce their oil consumption to combat global warming, they should pay compensation to oil producers.

The oil-rich kingdom has pushed this position for years in earlier climate-treaty negotiations. While it has not succeeded, its efforts have sometimes delayed or disrupted discussions. The kingdom is once again gearing up to take a hard line on the issue at international negotiations scheduled for Copenhagen in December.

The chief Saudi negotiator, Mohammad al-Sabban, described the position as a “make or break” provision for the Saudis, as nations stake out their stance before the global climate summit scheduled for the end of the year.

“Assisting us as oil-exporting countries in achieving economic diversification is very crucial for us through foreign direct investments, technology transfer, insurance and funding,” Mr. Sabban said in an e-mail message.

This Saudi position has emerged periodically as a source of dispute since the earliest global climate talks, in Rio de Janeiro in 1992. It is surfacing again as Saudi Arabia tries to build a coalition of producers to extract concessions in Copenhagen.

Petroleum exporters have long used delaying tactics during climate talks. They view any attempt to reduce carbon dioxide emissions by developed countries as a menace to their economies. >>> Jad Mouawad and Andrew C. Revkin | Tuesday, October 13, 2009

Wednesday, August 26, 2009

Saudi Attacks Obama's Oil Goal

THE SYDNEY MORNING HERALD: WASHINGTON: Saudi Arabia's former ambassador to the US, Prince Turki al-Faisal, has criticised the Obama Administration for promoting energy independence, calling the campaign to curb oil consumption an affront to the kingdom.

''This 'energy independence' motto is political posturing at its worst - a concept that is unrealistic, misguided, and ultimately harmful to energy producing and consuming countries alike,'' the prince wrote in an article published on Foreign Policy magazine's website.

Prince Turki, a member of the Saudi royal family and a former director of Saudi intelligence and ambassador to Britain, called energy independence ''little more than code for arguing that the United States has a dangerous reliance'' on Saudi Arabia. The kingdom, the largest oil exporter, ''gets blamed for everything from global terrorism to high gasoline prices'', he said.

The US President, Barack Obama, is pushing for an expansion of wind and solar energy and higher fuel efficiency for vehicles in an effort to reduce dependence on imported oil. >>> | Thursday, August 27, 2009