Ahead of COP26, Saudi Arabia Resists Calls to Cut Oil Investment

climate talks

that start later this month and oppose rising calls for a reduction in fossil-fuel investment, according to people familiar with the strategy, arguing that such a move could further push up energy prices. The kingdom, along with key oil-producing allies, including the Organization of the Petroleum Exporting Countries, is arguing publicly and privately that any calls for lower investment in new oil and natural gas development endorsed at a United Nations climate summit that kicks off on Oct. 31 in Scotland could lead to higher prices and widen the gap between rich and poor countries.

Get it threw your sick ideas! We need oil and natural gas and lots of it! We have the best systems of heat and air there is, we don’t need any of your foolish expensive ideas that do not work

In US, over half of annual 14.5 trillion pounds of CO2 emissions are from only 2 sources, transport & electricity generation Transport will increasingly shift to all electric. Thus if the electricity sector continues to ramp to zero emission, this will cut oil use substantially

This is it. This is the fight. We HAVE to call their bluff!

Heebrewz gonna heeb, BOOOOM!!

FFS, only 16% of carbon emissions are from burning fossil fuels, and only half of that is from cars, the other half is from haulage trucks and container vessels for which there is no viable alternative. The world still needs oil.

We could be Independent and not depend on foreign oil but the greatest obstacle to reach that goal is DEMOCRATS

That's the boy so-called prince thinking...remember, he threaten the world if it tries to bring him to justice?

It is in their economic right not to cut emissions urgently. But is our right too as global citizens to force them to make a step by step commitment to cut it.

wow

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Climate policies could spark an 'even worse' energy crisis, Saudi finance minister saysSaudi Arabia's finance minister has told CNBC that an 'even worse' energy crisis could be triggered if the world is not careful with its climate policies.
Source: CNBC - 🏆 12. / 72 Read more »

BP calls for investment in long-term energy deals, storage to meet future demandGlobal energy major BP called on Thursday for more investments in longer term energy contracts, storage and the diversification into various fuels to build a robust energy system in future. Personally I think oil companies should not be allowed to profit off the future they destroyed and continue to actively destroy.
Source: Reuters - 🏆 2. / 97 Read more »

Climate policies could spark an 'even worse' energy crisis, Saudi finance minister saysSaudi Arabia's finance minister has told CNBC that an 'even worse' energy crisis could be triggered if the world is not careful with its climate policies.
Source: CNBC - 🏆 12. / 72 Read more »