Global Warming Fight: Saudi Kingdom Wants Countries To Pay For Drop In Oil Revenue

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.

Read the whole story: New York Times

Comments

[wordvarc]

Our banks extorted our government,
why should't anyone, including the Saudi's, give it a try?

[ReedYoung]

Sure, right after Saudi Arabia finances Maldives' and other countries' building and emergency relief efforts, made necessary by results of global warming like rising sea levels and more frequent and severe tropical storms.

[Warthog]

Brought to you by Makim Ben Dover, CEO, OPEC underground.

[RTIII]

Somebody isn't too bright.
.

[hypnotoad72]

If the people putting up this idea helped the speculators that bled people dry in 2008, then I wholly disagree.

Besides, "free market" - can't they pull themselves up by their own bootstraps, instead of playing daft games -- like forcing the countries curbing their own oil use to pay them in return? (What the bleep is that all about?! That's like Microsoft forcing companies that don't need a Windows license on every PC to pony up for it anyway... oops, Microsoft was caught and put to court in 1994... by then they became a monopoly, so the fee was pointless... )

[fumes]

it's only fair..

they have to ''put food on their families''..

just like everyone else!

[RomeoMD25]

First, oil companies should love the rhetoric of global warming. They would be watching with glee.
If the public is conditioned to believe in alternatives such as wind at $200 per barrel of oil equivalent or solar at $1,000,
if taxes are supposed to force conservation while the public uses more and more energy, guess what gift is handed to those that manage oil and gas.

Even according to NYT
Exxon funding,writing the current Climate Bill

http://www.nytimes.com/gwire/2009/06/26/26greenwire-lobbying-cash-paved-climate-bills-road-to-hous-97436.html

[TxAggie]

if US companies are denied access to resources in our own backyard it really doesn't matter what the price is.

[SamEllison]

Can we pay them in sand?

[ReedYoung]

I recommend credits for the purchase of windmills and solar panels. Making those credits depreciate rapidly is probably the only way to get Saudi Arabia to be part of the solution. And let them take it or leave it, no haggling.