Saudi Arabia, along with other petrol producers, could be badly affected by emissions targets.
So, the oil producing country has an idea.
Saudi Arabia wants other oil producers to join it in asking for compensation from wealthy countries that reduce energy consumption to combat global warming.
So, the rest of the world cuts back on dangerous emissions, and pays the oil-rich countries for the privilege !
The Saudi chief negotiator, Mohammad al Sabban, has described the issue as “make or break” for his country.
“Assisting us as oil-exporting countries in achieving economic diversification is very crucial for us through foreign direct investments, technology transfer, insurance and funding,”
American Reality isn’t impressed.
‘I have never been accused of having the world’s greatest memory, so can you tell me how much assistance the Saudis gave us last year when a gallon of gas cost Americans more than four dollars. Given their lack of support for us why should we care so much about them?’
Some bloggers like common sense wonder even suggest that this is an attempt to fund a lavish lifestyle. Other’s like Market Rubbernecker are convinced the proposal will never fly, it’s a just a way of bringing the issue to the negotiating table.
If a county’s economy depends on a product that the world has used for decades and wants to use less of (in this case it’s oil) should that country be compensated?