02-02-2015, 12:51 PM
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Videochat Solutions
Industry Role:
Join Date: Aug 2004
Location: Canada
Posts: 48,529
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Saudi Arabia believe in man-made climate change ?
This is... incredible!
Quote:
Historic moment: Saudi Arabia sees End of Oil Age coming and opens valves on the carbon bubble
Most analysts believe Saudi Arabia refuses to cut production because it wants to shake out its higher-cost competitors or because it wants to punish Iran and Russia. There may be some truth in those theories, writes Elias Hinckley, strategic advisor and head of the energy practice with international law firm Sullivan and Worcester, but they miss the deeper motivation of the Saudis. Saudi Arabia, he says, sees the end of the Oil Age on the horizon and understands that a great deal of global fossil fuel reserves will have to stay underground to avoid catastrophic global warming. ?That?s why it has opened the valves on the carbon asset bubble.?
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Full story at Historic moment: Saudi Arabia sees End of Oil Age coming and opens valves on the carbon bubble - EnergyPost.eu |
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