Saudi Arabia to Seek Financial Aid if World Reduces Oil Dependence

[Are_grits_groceries]

Saudi Arabia may join the list of countries seeking financial aid over the UN climate deal. According to a Forbes.com report, during the UN’s recent greenhouse gas talks in Bangkok, Saudi Arabia campaigned quietly for financial compensation should a climate deal substantially reduce the world’s use of fossil fuels. The country appears to be motivated not by a need for assistance adapting to the impact of global warming but rather by a desire for compensation for decreased oil profits. Will the Saudis’ stipulation impact the development of an international climate treaty?

The Saudis’ campaign comes despite a recent International Energy Agency (IEA) report, which demonstrated that oil-rich nations would likely still profit with emissions regulations (sufficient for curbing climate change) in place. (According to the report, OPEC revenues would increase by $23 trillion between 2008 and 2030. This would be a fourfold increase in OPEC revenues’ growth rate between 1985 and 2007.)

http://www.triplepundit.com/2009/10/saudi-arabia-to-seek-financial-aid-if-world-reduces-oil-dependence/

They need to suck it up and use some of their profit to change the basis of their economy in some way. Oil independence is coming slowly, but it's coming.

I have no sympathy for them when they are wating time and money.

[Selatius]

1. Saudi Arabia needs no financial assistance. The problem is wealth there is heavily concentrated.

If you wanted to provide for everybody in Saudi Arabia, you would redistribute wealth from the parasitic House of Saud and their cronies who run the bigger corporations there to the rest of Saudi society with a progressive tax code that exempts nobody on account of being a member of the nobility or a close friend of the nobility.

Vast wealth. Too few people control it.

[Are_grits_groceries]

2. That's the truth.

They have the money, but they are just wasting it. They need to restructure their system. *snort* Like that's going to happen.

[SoCalDem]

3. Gee, maybe they should have saved some of that oil money

and planned for their futures, instead of blowing it all on goodies..

[Torn_Scorned_Ignored]

4. They should ask Bush and Cheney

they've made a Ton of Oil $$$

[TankLV]

5. ahhh - seems the grasshopper and the ant would be appropriate here...

kinda just BLEW AWAY ALL THOSE BILLIONS OF DOLLARS - ALREADY?!!!

I hope the STARVE...FUCK 'EM!!!

I hear SAND tastes GREAT with PISS on it...

[HamdenRice]

6. They are entirely justified

There are something like ten thousand Saudi princes. Each needs a home or flat in London, 1 mistress in Paris and 1 in Lebanon (these for the actual enjoyment of sexual pleasure as opposed to breeding - see below), a horse stable, a fleet of cars in Riyadh, 5 Filipina maids/slaves for the condo in Jedda, 3 legal wives and enough cash to support 25 or so children, and enough payroll money to pay a dozen or so Palestinian engineers to actually do the work for him.

It gets really expensive, and despite having the oil revenue, it's hard to put away money for a rainy day.

[Historic NY]

7. they don't need aid they need to sell some of the treasue they have..

we need to charge them more for US products.

[NNN0LHI]

8. They just wouldn't listen to Bill Clinton when he told them to invest in renewable energy

Stupids.

Don