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Reduce Oil Dependence, Pay the Saudis

Posted by: Tim Halbur

15 October 2009 - 12:00pm

While other nations work to fight climate change and cut oil consumption, Saudi Arabia thinks they should be guaranteed compensation for the fall in revenue.

"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."

Full Story: Saudis Seek Payments for Any Drop in Oil Revenues
Source: The New York Times, October 14, 2009
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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