Wednesday, October 14, 2009

Compensate Saudi Arabia for CO2 reductions?

Wow. I didn’t see this one coming….

Saudis Seek Compensation if Oil Exports Fall -

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 tactic has a familial resemblance to calls for wealthy nations to compensate less industrialized nations for the economic impacts of shifting away from low cost fuels.

I doubt even the Saudis really expect direct compensation, it’s much more likely to be a negotiating maneuver.

I’ll take this one as an encouraging sign that CO2 negotiations are getting real.

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