Saudis Want US To Pay For Not Using Oil
Saudi Arabia has come up with a novel way to combat so-called “Global Warming”: have Western countries such as the United States compensate them for a decrease in oil consumption.
Describing the prospect as a “make or break” option in an e-mail correspondence with The New York Times, Saudi climate negotiator Mohammad al-Sabban said, “Assisting us as oil-exporting countries in achieving economic diversification is very crucial for us through foreign direct investments, technology transfer, insurance and funding.”
“It is a very serious trend that we need to follow and influence if we want to minimize its adverse impacts on our economies and our people,” Sabban said in another e-mail to OPEC officials. “That does not mean we would like to obstruct any progress or that we do not want to join any international agreement. We will do that if the deal is fair and equitable and does not transfer the burden to us.”
But not even environmentalists are not warming up to the idea.
“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,” Jake Schmidt, the international climate policy director at the Natural Resources Defense Council, told the Times. “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.”