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this post was submitted on 10 Dec 2023
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This is the best summary I could come up with:
Saudi Arabia, the world’s leading exporter of oil, has become the biggest obstacle to an agreement at the United Nations climate summit in Dubai, where countries are debating whether to call for a phaseout of fossil fuels in order to fight global warming, negotiators and other officials said.
A group of nations led by small islands, whose countries are most vulnerable to sea level rise and other climate-fueled extreme weather events, want the summit to adopt a formal statement that the era of coal, oil and natural gas should soon come to an end.
In particular, oil- and gas-rich nations in the Persian Gulf appear to view the challenge to the future of fossil fuels, a resource that has brought their governments and royal families extraordinary wealth, as a threat as existential as climate change itself.
Frustrated Saudis often point out that oil production in the United States is surging and that, during the energy crisis brought on by the war in Ukraine, some European countries turned to coal-fired power plants.
Despite decades of trying to break the so-called “resource curse,” Saudi Arabia remains highly dependent on revenue from fossil fuels to sustain its economy, its government budget and its political stability.
Crown Prince Mohammed bin Salman is spending tens of billions of dollars to try to diversify the Saudi economy, investing in industries like renewable energy, tourism, entertainment and artificial intelligence.
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