EMISSIONS CUTS WILL HIT PERSIAN GULF

Action on climate to harm Gulf economies – Saudi Arabia
March 19, 2009 (Reuters)

"Strict measures across the world to act against climate change could seriously affect the economies of Saudi Arabia and other Gulf nations, a Saudi official said…

"OPEC has committed to reducing harmful emissions and Saudi Arabia has invested in carbon capture and storage technology which is designed to do so.

"But the Organization of the Petroleum Exporting Countries stresses that others should also take their share in managing the use of fossil fuels…"

Saudi Arabia could be hit hard by climate change-related emissions cuts - or it could become "the Saudi Arabia of solar energy." (click to enlarge)

"[Mohammad al-Sabban head of the Saudi Delegation to the United Nations Framework Convention on Climate Change and senior economic adviser at the Saudi oil ministry] cited an independent study by consultants Charles Rivers, which stated that policies to mitigate climate change could remove 5-20 percent of Saudi and other Gulf countries' GDP.

"Sabban reiterated comments made by Saudi Arabian Oil Minister Ali al-Naimi…that the kingdom was also investing in solar power and aimed to become a leading supplier in addition to its role as the world's biggest oil exporter."