OPEC wants western restructuring money
Quote:
Delegates said that Saudi Arabia, the world's biggest oil exporter, wanted promises of aid if Kyoto spurs a shift to renewable energies like tidal, solar or wind energy at the expense of fossil fuels.
Delegates said that Saudi Arabia, the world's biggest oil exporter, wanted promises of aid if Kyoto spurs a shift to renewable energies like tidal, solar or wind energy at the expense of fossil fuels.
(http://www.cnn.com/2003/TECH/science...eut/index.html)
I mean, gimme a break. These guys are sitting on a shitload of money which is either wasted on desert highways or invested in western companies (a larger part of Apple is owned by some Saudi), and they want compensary payment because the money might flow at a lesser rate?
I venture the guess they will live in their tents again after the oil boom because they seem to be completely unable to use it for some sensible development of their countries.
Comments
Originally posted by Smircle
(http://www.cnn.com/2003/TECH/science...eut/index.html)
I mean, gimme a break. These guys are sitting on a shitload of money which is either wasted on desert highways or invested in western companies (a larger part of Apple is owned by some Saudi), and they want compensary payment because the money might flow at a lesser rate?
I venture the guess they will live in their tents again after the oil boom because they seem to be completely unable to use it for some sensible development of their countries.
This is surrealist : Saudi Arabia meanly control the prices of Oil via OPEP, and the production. Their reserve won't last forever also. Reducing the production will only allow them , to live a little bit more easily, but longer.
The more people are rich, the more they tend to become greedy.
No money compensation for them. At their place i will be more concerned by human rights in their countrie who is a mix of occidental market with mediaval behavioring.
Originally posted by giant
Why? So they don't have to actually diversify their economy? It seems to me that economic diversification is exactly what that region needs.
Exactly. Seems to me, however, they are too rich to even think about that.
WAHHHHH!
Use your OWN damn money first, maybe sell a palace or three. How about THAT?
Originally posted by Outsider
People forget that plastics are made from petroleum. And that includes a multitude of household items, fabrics, etc.
While true, I would bet 95%+ of our petroleum use goes to auto's and powerplants.