WKYT | Lexington, Kentucky | News

Saudi Arabia says it will need aid if world cuts dependence on oil

BANGKOK (AP) - A number of countries participating in U.N. climate talks in Bangkok have been making the case that they'll need financial help to cope with the effects of global warming.

Now, add Saudi Arabia to the list.

Behind closed doors, the Saudis have been demanding that oil-producing nations get special aid if a new climate pact calls for substantial reductions in the use of fossil fuels.

The Saudi campaign follows a report from the International Energy Agency this week that shows OPEC revenues still increasing fourfold over the next couple decades even if countries agree to significantly slash emissions and cut their use of oil.

But the head of the Saudi delegation dismisses the IEA figures as "biased." He says OPEC's own calculations show that Saudi Arabia would lose $19 billion a year under a new climate pact and the region losing much more.


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