[FoRK] Compensation for Oil-Exporting Countries

Ken Ganshirt @ Yahoo ken_ganshirt at yahoo.ca
Wed Oct 14 14:50:25 PDT 2009

--- On Wed, 10/14/09, Simon Wistow <simon at thegestalt.org> wrote:

> "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."

Well, it's not like anyone is going to stop using oil. At first it's mostly going to be a decrease in the rate of increase well before it starts to actually decrease. And the only way it's going to go below a level that will provide them a reasonable income is if they run out.

Then there's the fact that as it becomes less available the more they'll get per barrel. That'll keep things level for some time to come, too.

Finally, what the hell have they been doing with the trillions in revenues they've already collected over the years?? If they haven't already started to diversify, why can't they do so on a small part of the revenues from the near future sales?

I have no sympathy. It's simple mismanagement compounded by attempted extortion. 

It's all bass-ackwards. Here in Canada, the energy-producing regions of the country are starting to be penalized for producing that energy (mining and selling coal, pumping and selling oil and natural gas). Only a little bit now (royalties) but lots more in the plans, if our collective governments (provincial, federal and global) ever get it together and figure out how they're going to do it (they all pretty much agree they're going to do it).

What makes the Saudis think they should be exempt from that?


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