Posted on 10/14/2009 5:24:31 PM PDT by Kaslin
Petropolitics: If there's a bright spot to greenhouse gasbags curtailing carbon output, it's watching the Saudis squirm. The sheiks worry they may have to make do with one or two fewer yachts.
During recent U.N. talks over global emissions cuts, Saudi Arabia quietly demanded that OPEC states get special financial aid if a new climate pact calls for big cuts in fossil-fuel use.
The kingdom's whimpering comes despite a new International Energy Agency report showing OPEC revenues would still grow $23 trillion between 2008 and 2030 — a fourfold jump compared with the 1985-2007 period — if countries agree to slash carbon output and thereby cut their use of oil.
But trillions more in cartel cash aren't enough for Saudi royalty. Flush with petrodollars from the huge run-up in crude prices last year, they're suddenly crying poor mouth.
"We are among the economically vulnerable countries," whined Mohammad Al Sabban, head of the Saudi delegation to the U.N. talks, which come ahead of December negotiations in Copenhagen for a treaty to replace the Kyoto protocol expiring in 2012.
"This is very serious for us," he continued. "We are in the process of diversifying our economy, but this will take a long time. We don't have too many resources."
In the process of diversifying? The Bush administration helped bring the Saudis into the WTO several years ago to do just that — diversify their economy. Not only are they making little progress there, but they're bucking WTO rules to open their market to foreign competitors.
The palace princes also sat on their gowns during the oil glut of the mid-1980s. Their diversification plan involved making domestic caviar, while waiting for oil prices to come back.
(Excerpt) Read more at investors.com ...
lol.
Those funny Saudi’s its a good thing our government wouldn’t take this seriously... right? right?
Fvck Saudi Arabia!
They use OUR money to fund OUR enemies. I say we should drill our own and let them eat their oil.
Alternately, we should use our military to conquer the entire middle east and then take what we want.
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