Saudis Seek Payments for Any Drop in Oil Revenues
October 14th, 2009Maybe you need a laugh this morning.
Via: New York Times:
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.
“It is like the tobacco industry asking for compensation for lost revenues as a part of a settlement to address the health risks of smoking,”
Nicely put. Of course, it’s not as if they have much of a choice. They’re completely dependent on oil exports.
Whichever way it goes, it’s not going to be good.
I saw this in Reddit. They entitled it “This is NOT an Onion article.” LOL
I can’t feel sorry for them. They have absolutely squandered their revenues and have made no real moves toward sustainability. I have to quote Matt Damon from Syriana:
“You know what the business world thinks of you? They think a hundred years ago you were living in tents out here in the desert chopping each other’s heads off and that’s exactly where you’ll be in another hundred years- so on behalf of my firm, yes, I accept your money.”